If you want to boost employees’ spirits without significant costs, an awards program is a low-cost fringe benefit, but some tax rules apply.

When it comes to selling your home, proactive tax planning can help you reduce your federal income tax bill. If you have a capital gain...

Health Savings Accounts (HSAs) are tax-advantaged savings vehicles for funding health care expenses not covered by insurance. And for...

As rents continue to rise in many areas, you may decide to help your financially challenged family members by renting a property to them...

Many businesses use independent contractors to help keep their costs down and provide flexibility for short-term needs. But the question...

Among the many challenges of parenthood is childcare for kids when school lets out. Babysitters are one option, or you might consider...

If you check the Internal Revenue Code, you may be surprised to find that most business deductions aren’t specifically listed there. For...

If you're a small-business owner and you hire your children this summer, you may be able to secure tax breaks and other nontax benefits.

If you received a large refund this year, you may want to adjust your withholding. Each year, millions of taxpayers claim an income tax...

Every business wants to cut costs, but it isn't easy. We're talking about clear ways to lower expenses, strengthening cash flow and profits.

Here are some final tax responsibilities to consider when closing down your business.

As a business owner of a C corporation, here are 4 steps to ensure your compensation is "reasonable" for IRS compliance purposes.

Here’s what you need to know about keeping financial records involved in your tax returns.

With a little planning, you may be able to boost your itemized medical expense deduction when you file your 2024 tax return next year....

If you’re a business owner or manager who is seeking to hire, you should be aware of the details of a valuable tax credit for hiring...

If you’re looking for a retirement plan for yourself and your employees but worried about the financial commitment and administrative...

Mistakes happen. What if you receive a refund from the IRS that you’re not entitled to? Or what if you receive one that’s more than...

Effective January 1, 2024, many companies in the United States must report information about their beneficial owners—the individuals who...

As part of an ongoing initiative to combat questionable Employee Retention Credit (ERC) claims, the IRS has launched a voluntary...

One of the most common misunderstandings about filing an income tax return is the difference between deductions and credits. Deductions...