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Now’s the time of year when many young adults are about to head back to college — or to enter their first year of higher education. If you have a [...]

Information courtesy of IRS   Many people enjoy hobbies, such as stamp and coin collecting, craft making and horsemanship, that are also a source of income. Did you know that [...]

A taxable sale of a business might be structured as an installment sale if the buyer lacks sufficient cash or pays a contingent amount based on the business’s performance. An [...]

Information courtesy of IRS It is important for taxpayers to know that the IRS: Never asks for credit card, debit card or prepaid card information over the telephone. Never insists [...]

Would you like to benefit charity while reducing the size of your taxable estate yet maintain an income stream for yourself? Would you also like to divest yourself of highly [...]

Information courtesy of IRS.gov If you start a business, know about your federal tax obligations. You may need to know not only about income taxes but also about payroll taxes. [...]

Changing jobs? You may be able to deduct some of your job hunting costs. Here are the guidelines: Same Occupation.  Your expenses must be for a job search in your [...]

Information courtesy of the IRS   Special tax benefits apply to members of the U. S. Armed Forces. For example, some types of pay are not taxable. And special rules [...]

Information taken from IRS.gov If you rent a home to others, you usually must report the rental income on your tax return. You may not have to report the income [...]

Investing in mutual funds is an easy way to diversify a portfolio, which is one reason why they’re commonly found in retirement plans such as IRAs and 401(k)s. But if [...]

An employer enjoys several advantages when it classifies a worker as an independent contractor rather than as an employee. For example, it isn’t required to pay payroll taxes, withhold taxes, [...]

Information courtesy of IRS.gov 1. If you have a capital gain on the sale of your home, you may be able to exclude your gain from tax. This rule may apply [...]

Information courtesy of IRS.gov Are you donating your services to charity this summer and will travel as part of the service? If so, some travel expenses may help lower your taxes when you [...]

Information courtesy of IRS.gov   The IRS offers the following tips to avoid tax scams. Thieves don’t stop victimizing unsuspecting taxpayers with their scams after April 15. Identity theft, phone [...]

With the gift and estate tax exemptions currently at $5.34 million, you might think that estate valuations are less important. But even if you believe that your estate’s value is [...]