Don’t leave it up to chance – check your 2017 tax withholdings while you still have some time to make changes. You can use the withholding calculator on the IRS website to see if you are paying too much or not enough. To make a
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Fourth-quarter interest rates will stay the same. Those rates include: 4 percent for overpayments (3 percent for corporations), 1.5 percent for the portion of a corporate overpayment over $10,000, 4 percent for underpayments and 6 percent for large corporation underpayments.
If an IRS agent makes an in-person visit to your home or business and it feels a little off, ask for credentials. All real IRS agents should carry two forms of identification showing that they’re legit – a personal identity verification card and a pocket
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So you’ve been contacted by the IRS — or you’re worried you will be. Find out the first steps you should take to be prepared if you’re audited.
Pets are family – and sometimes business. If you own an animal that has a specific role in your business (like a guard dog or a cat that keeps pests away), you may be able to deduct the cost of your pet on your tax
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Some of the most common tax return errors come from name mistakes. Your name has to match the information on file with the Social Security Administration (SSA). So if you recently married or divorced but haven’t changed your name with the SSA, you’ll need to
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If you exchanged items or services with someone and didn’t use money, you’ve bartered! That means you are required to list the difference in fair market value between what you’ve exchanged as either income or a loss on your tax return. Before you establish the
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If you invest a ton of personal time and effort into your hobby, plus you have multiple customers and keep professional records, your hobby might actually be a business. Turning your hobby into a business means you can deduct qualified business expenses. But that’s only
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Owning a home isn’t for everyone, but there are some great tax benefits for people who do. Building equity is a popular reason why renters decide to become homeowners. Paying a mortgage allows you to build up equity in property that you can realize when
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The price that property would sell for on the open market — fair market value (FMV) — often seems like it’s open to interpretation. Here’s how to defend your FMV determination if it’s questioned.
