An “innocent spouse” may be able to escape tax liability
August 29, 2022
In some cases, a married couple files a joint tax return and one spouse is unaware of all the income of the other spouse. The spouse who is in the dark still must generally pay the tax bill even if the couple divorces. But there may be “innocent spouse” relief.
Is your withholding adequate? Here’s how to check
August 11, 2022
A big tax bill (or a large refund) may mean you don’t have the proper amount of tax withheld from your paycheck. Here’s how to make sure that doesn’t happen next year.
How to treat business website costs for tax purposes
August 10, 2022
How do you handle the costs involved in developing your business website for tax purposes? Here are the general rules.
How to avoid the early withdrawal tax penalty on IRA distributions
August 5, 2022
If you want to take money out of your traditional IRA before age 59½, you’ll generally have to pay an early withdrawal penalty on top of the regular income tax you’ll owe. But there are exceptions to avoid the penalty.
Three tax breaks for small businesses
August 4, 2022
You don’t have to be a large business to benefit from tax breaks. Here are 3 ways that eligible small businesses can save on taxes.
Interested in an EV? How to qualify for a powerful tax credit
July 21, 2022
Many people are thinking about buying electric vehicles because of their advanced technology, high gas prices and the fact there are more models available today. Along with factors like acceleration and the battery range, check out the federal tax break that may be available.
