General Tax Information

The government requires most people, including yourself, to file income taxes each year. Whether you are required to file depends on your age, filing status, and income. If you are not fortunate...

As a freelance writer, you are responsible for your own taxes. This means that throughout the year, you should be getting ready to do your taxes. However, if you’ve procrastinated, it is important...

The freedom that comes from being an independent contractor also brings a more complex tax situation. Many expenses that are nondeductible for employees can be written off for independent...

The health savings account is a tax-free savings vehicle that can be used for certain qualified medical expenses by individuals, their spouses and dependents. HSAs must be used with a high...

Becoming a full-time trader is something most part-time traders can only dream about, but there are some practical matters to consider. Failure to understand the potential tax benefits of becoming...

The lifetime learning credit is one of two credits that can be claimed on a tax return to help offset the costs of higher education. There is no limit to the number of years it can be claimed, and...

Business owners can get many perks, including company paid leased cars. The IRS has several rules regarding how a business can lease a car and legally expense it. Closely following the rules is...

Tax time doesn't have to be a nightmare just because you've started your own Avon business. With a little guidance, you can have everything organized and ready to go come April 15. Taxes only need...

Never wait until the last moment to file taxes. This might make you file late and you might be penalized for doing so. Get ready to file your taxes by creating a file either in your desk drawer,...

If a hobby results in someone making money, the IRS requires that income to be reported unless the hobby costs more than the income received. Calculate taxes for hobby expenses and income, if the...

It's that time again! Rather than waiting to the last minute, why not just start now! You only have 4 weeks to get it done. There is a lot of help out there and this article may help you get...

Tax write-offs help to reduce taxable income, therefore saving the amount of money needed to pay taxes. There are many different types of tax write-offs and deductions. Families with children are...

Independent contractors have the tax advantage of deducting unreimbursed business-related expenses in full on Schedule C of the Form 1040 tax return. Alternatively, employees can deduct employee...

There are several expenses every family has that are tax deductible. Keeping track of them and submitting them may not get you more of a tax refund. But it will decrease your gross yearly income,...

If you've decided to do your own taxes this year to save money, you have to make sure to find all the deductions you can! You'll want to find hidden tax deductions just lurking and waiting for you...