Do you incur unreimbursed costs while doing charity work? You may be able to take a tax deduction. Read our Tax Tip to find out.
If you owe on certain debts, the IRS can keep a portion of your federal refund to satisfy the debt. Read this tax tip to learn more.
Last December, Congress extended a number of the Bush-era tax breaks, but only for a limited length of time. It is probably a safe bet that most won’t get extended further, considering the size of the national debt. Although numerous tax breaks were extended, only a few provide you with an opportunity to take actions that can reduce your tax bite. But if you want to take advantage of those tax breaks, you need to act this year or next. Here is a list of those extended tax breaks and what will happen when they expire.
The Internal Revenue Code rewards businesses for pursuing innovation by continually increasing investment. Learn how in this Tax Tip.
Are you missing out on tax perks related to your business travel? Food and lodging expenses may be deducted when you are away from home for business purposes. Like everything in the tax law, to be tax deductible, certain rules must be followed. Individuals who know the rules and keep good records derive the most from these deductions.