You may qualify to exclude from your income all or part of any gain from the sale of your main home. Your main home is the one in which you live most of the ...

The tax reform package that became law late last year had substantial impacts on American taxpayers. Major changes to the standard deduction, various credits...

One of the most significant learning curves immigrants must climb is the U.S. tax system. Fortunately there are a few key points that can make the filing pro...

Median state tax rates can vary considerably. Looking for a state that doesn't have a property tax is like grabbing binoculars to watch the sky for a unicorn...

The Pros and Cons of Filing a Joint Married Return The Internal Revenue Service doesn't force married couples to file joint income tax returns simply because...

Unrelated Business Income Tax (UBIT) was created by the congress to level the playing field for businesses established under the umbrella of a tax-exempt ent...

Forget about keeping up with the Joneses. This time of year you want your house to be as crummy as possible. Why? Because it’s property tax assessment time, w...

One of the most highly touted benefits of homeownership has traditionally been the write-offs homeowners can claim to reduce their federal income tax bills. ...

Six out of 10 affluent adults expect to change their financial plans due to new tax law. The estate and gifting exemption is up to about $11 million per pers...

With the rigors of physical labor and the headaches of compliance regulations, most construction workers would appreciate a break after a long day on the sit...

The 2018 filing season kicked off on January 29, 2018. Before all is said and done, the Internal Revenue Service (IRS) anticipates processing nearly 155 mill...

C corps may become a bit more popular under the new regime given the big reduction in their tax rate, but pass-throughs still seem to have the upper hand, ad...

Whether you’ll pay taxes—and if so, how much—depends on how long you’ve been in your home. If you’ve lived there for at least two of the last five years, you...

Retirees living abroad have to take special care with their tax returns. If you forget to check it off this box on Schedule B when you live overseas, it coul...

Property taxes can be a large part of your housing budget, depending on where you live. In New Jersey, the state with the highest property tax rate, a home a...

WASHINGTON — Americans have done more and more of their shopping online in recent years, drawn by the promise of low prices, wide selection and buy-from-home...

The American Institute of CPAs requested immediate guidance Monday from the Internal Revenue Service and the Treasury Department on various provisions of the...

Key Takeaways There are a number of significant tax benefits that come with investing in real estate, but arguably the number one benefit is the deductions i...

Cost of goods sold (COGS) is an accumulation of the direct costs that went into the goods sold by your company. This includes the cost of any materials used ...