Since the 1996 tax law change, one of the main areas of dispute between taxpayers and the Internal Revenue Service has been the allocation of “damage awards.” When you, the taxpayer, receive a settlement payment for damages, the tax consequences vary, depending on the type of award received.
Each month when you receive your bank statement, you should reconcile your checkbook register to your account statement. In this article we provide the steps and tips to keep your account balanced.
Fringe benefits are one of the overlooked benefits when considering a new job. These might garner you a discount on merchandise or services, or earn you points and rewards that you can use personally.
There are free online tools you can use to track your spending habits and keep you in line with your budget.
A like-kind exchange, or 1031 exchange, is used to defer the capital gain on the exchange of business or investment property for the same kind of property.
Owning an rental property comes with some tax implications, and not just the great “tax write-off” you’ve heard about.
There are plenty of business expenses that are deductible if they are not fully reimbursed by your employer. Recordkeeping for these expenses is important too.
A business taxpayer may deduct contributions to organizations other than charities as a business expense provided that the contributions have a direct relationship to the company’s business.
