The October 15, 2025, deadline is the last chance for anyone who filed an extension on their 2024 taxes, and missing it can mean costly IRS penalties and added interest. With updates like a higher 67¢ mileage rate, expanded Section 179 deductions, and stricter digital...
Whether an individual is a casual or professional gambler, their winnings are taxable. However, the Treasury Inspector General for Tax Administration reports that gambling income is vastly underreported. Failing to report winnings accurately can lead to back taxes, interest, and penalties. Here’s what taxpayers need...
No one likes surprises when filing a tax return. One thing that catches many older people off guard is getting taxed on their Social Security benefits. This article explains how taxpayers can calculate provisional income to determine whether their Social Security income is indeed subject...
This calendar notes important tax deadlines for the third quarter of 2020....
When someone hires household help — such as an in-home caregiver, gardener or personal chef — that individual may become an employer. With employer status comes a variety of specific tax obligations. This article explores four questions that everyone should ask before saying, “You’re hired.”...