You may pay out a bundle in out-of-pocket medical costs each year. But can you deduct them on your tax return? It’s possible but not...

If you own your own company and travel for business, you may wonder whether you can deduct the costs of having your spouse accompany you...

If you operate a business, or you’re starting a new one, you know you need to keep records of your income and expenses. Specifically, you...

While some businesses have closed since the start of the COVID-19 crisis, many new ventures have launched. Entrepreneurs have cited a...

Many tax limits that affect businesses are annually indexed for inflation, and several of them have increased for 2022. Here’s a rundown...

Are employees at your business traveling again after months of virtual meetings? In Notice 2021-52, the IRS announced the fiscal 2022...

If you use an automobile in your trade or business, you may wonder how depreciation tax deductions are determined. The rules are...

A business may be able to claim a federal income tax deduction for a theft loss. But does embezzlement count as theft? In most cases it...

If your child is fortunate enough to be awarded a scholarship, you may wonder about the tax implications. Fortunately, scholarships (and...

If you have a parent entering a nursing home, you may not be thinking about taxes. But there are a number of possible tax implications....