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With the possibility that tax law changes could go into effect next year that would significantly reduce income tax rates for many businesses, 2017 may be an especially good year to accelerate deductible expenses. Why? Deductions save more tax when rates are higher.
In an era filled with uncertainty, you can count on one thing: time marches on. Here are some important age-related financial and tax milestones to keep in mind for you and your loved ones:
There are still ways to earn income that is free from federal income tax. With the various tax increases that have taken effect in recent years, tax-free income opportunities are more valuable than ever.
Here are 10 sources of non-taxable income.
Currently, a valuable income tax deduction related to real estate is for depreciation, but the depreciation period for such property is long and land itself isn't depreciable.
The IRS uses "Collection Financial Standards" to help determine a taxpayer's ability to pay a delinquent tax liability.
Business owners may not be able to set aside as much as they'd like in tax-advantaged retirement plans.