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The home office deduction is allowed for both employees and self-employed individuals, with this difference: employees must use their home office for the convenience of the employer (not for personal ...
Not yet. The more than four dozen tax rules that expired at the end of 2014 have yet to be extended for 2015. Stay tuned!...
You must attach your own statement to your tax return that includes the following information: The transaction was a loan and not a gift (this can be proven by showing a promissory note that inclu...
For 2014, large employers were required to report coverage on employees’ W-2 forms; small employers could do so voluntarily. Employers could also voluntarily report coverage to employees on Form 109...
It’s time to look at a calendar to see whether you meet the time test for the home sale exclusion. You must have owned and used the home as your principal residence for at least two of the five year...
Suspended passive losses become deductible in the year in which there is a complete disposition of the property in a fully taxable event to an unrelated party. The fact that the losses remained suspen...
No. Eligibility for the earned income tax credit is based on income, not age. The amount of the credit varies with the number of qualifying children you have. A modest credit applies even if you have ...
Job-loss mortgage insurance is a policy that pays some or all of the mortgage payments (and, under some policies, real estate taxes and homeowners insurance) if you lose your job. The IRS has not rule...
A donor-advised fund is a program that lets you donate cash and certain property now—and take a current charitable contribution deduction—while having funds disbursed to a charity in the future. T...
Under federal gift tax rules, you can give each person $14,000 in 2015. If you make the check out to both your granddaughter and her spouse, you can effectively give up to $28,000 without any gift tax...
The home office deduction is allowed for both employees and self-employed individuals, with this difference: employees must use their home office for the convenience of the employer (not for personal ...
Not yet. The more than four dozen tax rules that expired at the end of 2014 have yet to be extended for 2015. Stay tuned!...
You must attach your own statement to your tax return that includes the following information: The transaction was a loan and not a gift (this can be proven by showing a promissory note that inclu...
For 2014, large employers were required to report coverage on employees’ W-2 forms; small employers could do so voluntarily. Employers could also voluntarily report coverage to employees on Form 109...
It’s time to look at a calendar to see whether you meet the time test for the home sale exclusion. You must have owned and used the home as your principal residence for at least two of the five year...
Suspended passive losses become deductible in the year in which there is a complete disposition of the property in a fully taxable event to an unrelated party. The fact that the losses remained suspen...
No. Eligibility for the earned income tax credit is based on income, not age. The amount of the credit varies with the number of qualifying children you have. A modest credit applies even if you have ...
Job-loss mortgage insurance is a policy that pays some or all of the mortgage payments (and, under some policies, real estate taxes and homeowners insurance) if you lose your job. The IRS has not rule...
A donor-advised fund is a program that lets you donate cash and certain property now—and take a current charitable contribution deduction—while having funds disbursed to a charity in the future. T...
Under federal gift tax rules, you can give each person $14,000 in 2015. If you make the check out to both your granddaughter and her spouse, you can effectively give up to $28,000 without any gift tax...
