The simplified version If your home office is 300 square feet or less and you opt to take the simplified deduction, the IRS gives you a deduction of $5 pe...

2019 HSA contribution limits will increase to $3,500 for single (an increase of $50) and $7,000 for family (an increase of $100). What is the last day I c...

However, if a single member LLC’s organizational expenses exceed $5,000, no portion of the expenses is deductible. Instead, the entire amount must be capi...

In television, movies, or books, you might see a deceased partner referred to as an “ex-husband,” “ex-wife,” or “former spouse.” But in real life, describ...

take the standard deduction on Form 1040. Itemizing your tax deductions makes sense if you: Have itemized deductions that total more than the standard ded...

Generally, the employer will pay a part of the premium and the employee will pay a part. Employer plans usually offer a coverage option for the employee t...

Mandatory Payroll Tax Deductions Federal income tax withholding. Social Security & Medicare taxes – also known as FICA taxes. State income tax withhol...

Libel is written defamation; slander is spoken. If you win, set aside a portion of any judgment or settlement. The Internal Revenue Service will want its ...

Accordingly, when an estate (or trust) has a final tax year of less than 12 months that begins and ends in the same year, that year’s Form 1041 may not ye...

If one spouse has eligible compensation, that spouse can make IRA contributions for an IRA for the nonworking spouse. Traditional and Roth IRAs have the s...