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Attorney’s fees you pay to help you right a wrong can be very costly. Whether the fees are charged hourly or a flat amount, you may or may not be able to deduct them. Here’s a roundup of the situa...

Not for self-employed individuals. For example, an independent contractor filing Schedule C can claim a home office deduction in 2018. However, employees who work from home cannot claim a home office ...

The temperature is up and many people take vacations during the summer. Taxes may be the last thing on your mind. Nonetheless, here are 5 tax breaks you may want to consider this summer. 1.    ...

According to the U.S. Census Bureau, the number of years spent in retirement is about 18, which assumes retirement at age 63 and a life expectancy from then to age 81. Will you have the money on hand ...

The IRS announced that it was using a new format for tax return transcripts to better protect taxpayer’s personal information (IR-2018-171, 8/22/18). Starting September 23, 2018, Get Transcript Onli...

In her 2018 annual report to Congress, National Taxpayer Advocate Nina E. Olson described the challenges to the IRS resulting from the 35-day government shutdown and recommended additional multi-year ...

If you receive a lump-sum payment of Social Security benefits reflecting amounts attributable to prior years, you can elect to use income from the prior years to figure the taxable portion of benefits...

Fortunately, no. The amount of the benefits includible in gross income may be zero, somewhere between zero and 50%, or somewhere between 50% and 85%; 85% is the maximum taxable percentage. The exact a...

In certain situations, an employer is required to distribute funds held in the company’s retirement plan, after withholding 20%. But what happens if the individual fails to cash the check? The IR...

The year is winding down but there’s still time to take certain actions that can lower your tax bill for 2019. Here are 10 things you can still do: 1. Review withholding and estimated taxes I...