Box 1 Taxable Wages in Box 1 Box 1 of the W-2 shows your taxable wages for federal income tax purposes. To arrive at your total salary using Box 1, add yo...

Withholding is the portion of an employee’s wages that is not included in their paycheck but is instead remitted directly to the federal, state, or local ...

Cost of Goods Sold, cost of sales, cost of revenue, or cost of services are referred to all the direct costs associated with services rendered to the cust...

The wash sale rule can apply to trades involving stock options. First, if you sell stock at a loss, you can turn that sale into a wash sale by trading in ...

Use Schedule A (Form 1040) to figure your itemized deductions. If you itemize, you can deduct a part of your medical and dental expenses, and amounts you ...

If you attempt to file your return twice, the IRS will reject the return and return it with an error code and explanation. The IRS typically uses error co...

Deductions Retirement account contributions. You can deduct contributions to a traditional IRA or self-employed retirement account. Educational expenses. ...

Yes. If your office is in an apartment (or in a house you rent), you can deduct the portion of your rent and maintenance costs that relate to the space th...

Generally, benefits for surviving children stop when a child turns 18. Benefits can continue to as late as age 19 and 2 months if the child is a full-time...

Globe has recently launched the GoPay service – the first QR payments via smartphone in the Philippines for cashless transactions. GoPay is the newest fea...