If you work from home, you should learn the rules for how to claim the home office deduction. This is the only deduction that allows you to take a portion of non-deductible expenses you’re your rent, home repairs, gas, electricity etc. and convert it to an above line deduction. However to claim this deduction you …
Good News!! New Simplified Home Office Deduction Rules Read More »
When you file your tax return you have options. You can choose to either itemize your deductions on Schedule A or simply take the standard deduction. Before choosing it’s a good idea to figure your deductions using both methods. Then select the one that allows you to pay the least amount of taxes. The one …
Five Tips to Help You Decide To Itemize Or Use the Standard Deduction Read More »
There are many reasons why you should keep a copy of your federal tax return. For example, you may need it to answer an IRS inquiry. You may also need it to apply for a student loan or a home mortgage. If you can’t find your tax return, the IRS can provide a copy or …
How to Get a Transcript or Copy of a Prior Year Tax Return Read More »
A vacation home can be a house, apartment, condominium, mobile home or boat. If you own a vacation home that you rent to others, you generally must report the rental income on your federal income tax return. But you may not have to report that income if the rental period is short. In most cases, …
Do you own or operate a small business? Or do you plan to start a business someday soon? If you answered yes to either question, the IRS has online information, support and services that may be helpful to you. Small Business Week Webinars. During National Small Business Week 2013, the IRS is hosting two free, …
IRS Offers Information, Support and Services for Small Businesses Read More »
