Yes, if you choose the simplified option for the method you want to use to claim the home office deduction. However, you may have to recapture depreciatio...

Gifts to individuals are not tax-deductible. Tax-deductible gifts only apply to contributions you make to qualified organizations. The gift tax applies to...

Form W-4 tells your employer how much tax to withhold The amount of federal income tax withheld from your paycheck reduces your take-home pay. Doing so wi...

Both contributions and earnings in a 403(b) plan grow tax-deferred, meaning you do not have to pay any tax at all if your accounts rise in value, regardle...

Taxpayers may pay their tax by using a credit/debit card (Visa/MasterCard) or bank draft via our online payment system, or by contacting an agent at 1-877...

Not All Businesses Need to Be Registered If you start a sole proprietorship in Canada and use only your legal name as the name of your business, you don’t...

I have been separated for a year, wife of 11 years moved out 7 months ago. We always cared and loved for each other, but grew apart in the last few years ...

A non-refundable tax credit is a type of income tax break that reduces one’s taxable income dollar for dollar. A non-refundable tax credit can only reduce...

Patients are more likely to have a baby with Down syndrome or another chromosome abnormality when they are age 35 or older, or if they have already had a ...

As a taxpayer, you may be exempt from backup withholding tax if you’ve provided the payer with your Social Security number and name through a W-9, and the...