Partners May Have To Report More Income On Tax Returns Than They Receive In Cash
Are you a partner in a business? You may have come across a situation that’s puzzling. In a given year, you may be taxed on more partnership income than was
Are you a partner in a business? You may have come across a situation that’s puzzling. In a given year, you may be taxed on more partnership income than was
Are you a charitably minded individual who also is taking distributions from a traditional individual retirement account (IRA)? You may want to consider the tax advantages of making a cash
Businesses should be aware they may be responsible for issuing more information reporting forms for 2022 because more workers may fall into the required range of income to be reported.
Taking care of an elderly parent or grandparent may provide more than just personal satisfaction. You also could be eligible for tax breaks. Here’s a rundown of some of them.
The IRS recently released guidance providing the 2023 inflation-adjusted amounts for Health Savings Accounts (HSAs). High inflation rates will result in next year’s amounts being increased more than they have
If you donate valuable items to charity, you may be required to get an appraisal. The IRS requires donors and charitable organizations to supply certain information to prove their right
The IRS has begun mailing notices to businesses, financial institutions, and other payers that filed certain returns with information that doesn’t match the agency’s records. These CP2100 and CP2100A notices
Like many people, you may have dreamed of turning a hobby into a regular business. You won’t have any tax headaches if your new business is profitable. But what if
What are the tax consequences of selling property used in your trade or business? There are many rules that can potentially apply to the sale of business property. Thus, to
Sometimes homeowners decide to move to new residences but keep their present homes and rent them out. If you’re thinking of doing this, you’re probably aware of the financial risks