The Internal Revenue Service today issued the 2018 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes. Beginning [...]
Working from home has become commonplace. But just because you have a home office space doesn’t mean you can deduct expenses associated with it. And for 2018, even fewer taxpayers [...]
The new tax reform law— commonly referred to as the "Tax Cuts and Jobs Act" (TCJA) —is the most significant tax legislation in decades. Now businesses and individuals are trying [...]
Under the Tax Cuts and Jobs Act (TCJA), individual income tax rates generally go down for 2018 through 2025. But that doesn’t necessarily mean your income tax liability will [...]
The IRS has just announced that it will begin accepting 2017 income tax returns on January 29. You may be more concerned about the April 17 filing deadline, or even [...]
When a couple gets married or gets divorced, taxes are probably not the first thing on their minds. But many decisions that couples make do affect their tax returns — [...]
The Tax Cuts and Jobs Act (TCJA) enhances some tax breaks for businesses while reducing or eliminating others. One break it enhances — temporarily — is bonus depreciation. While most [...]
The tax law allows you to deduct your personal losses resulting from casualties and thefts within certain limits. And a "theft" for tax purposes isn't strictly limited to house burglaries [...]
If you participate in a qualified retirement plan through your job or self employment — such as a 401(k), profit-sharing, or Keogh plan — you might be allowed to borrow [...]
The IRS has been under fire recently after it was found to target conservative-leaning organizations that applied for tax-exempt status. The scandal has taken many twists and turns and involves [...]