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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 received unemployment compensation in 2014? A: Unemployment compensation you received under the unemployment...

Are you wondering if there's a hard and fast rule about what income is taxable and what income is not taxable? The quick answer is that all income is taxable unless the law specifically excludes it. But as you might have guessed, there's more to it than that. Taxable...

Are you one of the millions of Americans who hasn't filed (or even started) your taxes yet? With the April 15 tax filing deadline less than a week away, here is some last minute tax advice for you. 1. Stop Procrastinating. Resist the temptation to put off your taxes...

Even if you've never paid Alternative Minimum Tax (AMT), before, you should not ignore this tax. Why? Because your tax situation might have changed and this might be the year that you need to pay AMT. AMT attempts to ensure that taxpayers who claim certain tax...

Since 1975, the Earned Income Tax Credit has helped workers with low and moderate incomes get a tax break each year. Four out of five eligible workers claim EITC. Wondering if you can too? Here's what you should know about this valuable credit: 1. Review your...

If you haven't contributed funds to an Individual Retirement Arrangement (IRA) for tax year 2014, or if you've put in less than the maximum allowed, you still have time to do so. You can contribute to either a traditional or Roth IRA until the April 15 due date, not...

Beginning in 2014, an eligible individual or family member covered under a qualified health plan through a Health Insurance Marketplace (Exchange) is allowed a premium tax credit. The premium tax credit offsets the cost of premiums paid for healthcare coverage in a...

Whether you're self-employed or an employee, if you use a car for business, you get the benefit of tax deductions. There are two choices for claiming deductions: Deduct the actual business-related costs of gas, oil, lubrication, repairs, tires, supplies, parking,...

Most people file a tax return because they have to, but even if you don't, there are times when you should because you might be eligible for a tax refund and not know it. This year, there are a few new rules for taxpayers who must file. The six tax tips below should...

Confused about which credits and deductions you can claim on your 2014 tax return? You're not alone. Here are six tax breaks that you won't want to overlook. 1. State Sales and Income Taxes Thanks to last-minute tax extender legislation passed last December taxpayers...