Claiming Bad Debt Loss Deductions
The issue of individual taxpayers deducting bad debt losses has historically been a source of tension with the IRS. Here's what you need to know to get the best tax results for your situation.
Insights Into Small Business Bankruptcies
Many U.S. businesses filed for bankruptcy last year. Through the end of the third quarter of 2024...
Social Media Isn’t a Trusted Source for Tax Advice (Clone)
The IRS has issued repeated warnings over the past year about inaccurate advice and outright scams...
IRS Targets Certain Conservation Easements
Conservation easements can be an effective way for wealthy taxpayers to achieve their philanthropic...
Top 10 Tax Breaks to Consider on Extended Returns
If you requested an extensionfor your 2023 federal income tax return, you have until six months...
Planning for Taxable Gains and Losses
What's the difference between capital gains and losses and ordinary gains and losses? The...
Two Important Breaks for Mature Taxpayers to Consider
If you're an "experienced" taxpayer, you're probably entitled to some age-based federal income tax...
Key Rules for Home Office Deductions
Do you work from home all or part of the time? If you're self-employed and meet certain...
Can You Claim Your Parent as a Dependent?
If you payover half the cost of supporting a parent, your parent is considered your dependent for...
Itemizing Deductions on Your Federal Income Tax Return
Once the 2023 tax year is over and the numbers are generally set in stone, you can itemize...