These two tax terms are probably the ones my clients confuse most often. Think of a tax credit as a gift card applied to your ...

Certain homeownership, business and healthcare deductions could significantly lower your tax bill. Here's how.

Many tax deductions, such as charitable donations and business supplies, are well known, but some are more obscure. With tax season upon us, here's a look at how tax deductions work and ...

The logbook method is more onerous but allows you claim more kilometres and can therefore potentially give you a bigger deduction. But if you want to ... tyres and repairs. Tax Invest Accounting ...

Like with almost any dollar you earn in the United States, if you earn rental income, you must report this on your taxes.

Filing your federal tax return to the Internal Revenue Service (IRS) starts with having the right forms in hand. Whether you choose to e-file or submit a paper return, being well-prepared is essential ...

Learn More: 8 Common Mistakes Retirees Make With Their Social Security Checks However, to help offset that income, the IRS allows you to take certain deductions to hopefully lower your tax bill to ...

The car insurance premiums for your personal vehicle are only tax deductible if you drive it for business purposes. Some common examples include ... actual expenses takes a lot more work, but your ...