In general, the home office must be used exclusively and regularly as the principal place of business or to meet and deal with customers in the normal course of the business. If the taxpayer is an ...

The Internal Revenue Service has announced several changes for the 2001 tax year that adjust tax laws to reflect inflation. One change affects the way donors calculate their charitable deductions.

Janet Berry-Johnson, CPA, is a freelance writer with a background in accounting and income tax planning and preparation for individuals and small businesses. Her work has appeared in Business Insider ...

Wondering what tax reporting might look like under the One Big Beautiful Bill Act (OBBBA)? The IRS has released drafts of some 2025 tax forms (that you’ll file in 2026), including a draft of the new ...

As Americans get ready for the upcoming tax season, sweeping changes are going to affect how individuals and families file this year — including which deductions and credits they can claim. While the ...

There are many business expenses that you can deduct for tax purposes. You need to keep track of these expenses along with all revenue to properly complete your income tax statement. You can deduct ...

President Donald Trump’s One Big Beautiful Bill Act (OBBBA) raised the state and local tax (SALT) cap deduction to $40,000 from the previous $10,000, as previously reported by GOBankingRates. For ...