In most cases, you can claim allowable expenses if you itemize on IRS Schedule A, Itemized Deductions. You can deduct the amount that is more than two percent of your…

If you’re age 70 1/2 or older, you can now take advantage of recent legislation allowing you to avoid paying income tax on IRA withdrawals transferred directly to a qualified…

If you are due a refund, there is no penalty if you file a late tax return. If you owe tax, and you failed to file and pay on time,…

Looking to save money on your taxes this year? It’s never too early to start planning ahead using these proven tax planning strategies. Max Out Your 401(k) or Contribute to…

Given current economic conditions, you may be faced with tax questions surrounding a job loss and unemployment issues. Here are some answers: Q: What if I receive unemployment compensation in…