Welcome to the TaxGenuity Blog

If you are living or working outside the United States, you generally must file and pay your tax in the same way as people living in the U.S. This includes people with dual citizenship. If you're a taxpayer with foreign income, here's what you should know: 1. Report...

While the fate of several business-related tax extenders that expired at the end of 2013--including R & D credits, bonus depreciation, and Section 179--is uncertain, there are still a number of end of year tax strategies businesses can use to reduce their tax...

Once again, tax planning for the year ahead presents more challenges than usual, this time due to the numerous tax extenders that expired at the end of 2013. These tax extenders, which include nonbusiness energy credits and the sales tax deduction that allows...

If you are an independent contractor or run your own business, there are a few basic things to know when it comes to your federal tax return. Here are six tips you should know about income from self-employment: Self-employment income can include income you received...

Whether you play the lottery, roll the dice, play cards, or bet on the ponies, all of your gambling winnings are taxable and must be reported on your tax return. If you're a casual gambler, here's what you need to know about figuring gambling income and loss. 1....

Do you plan to donate your services to charity this this year? Will you travel as part of the service? If so, some travel expenses may help lower your taxes when you file your tax return next year. Here are five tax tips you should know if you travel while giving your...

If you itemize deductions on your tax return, you may be able to deduct certain miscellaneous expenses, which might reduce your federal income tax. Examples include employee expenses and fees you pay for tax advice. If you itemize, these deductions could lower your...

If you moved due to a change in your job or business location or because you started a new job or business, you may be able to deduct your reasonable moving expenses. Additionally, if you meet the requirements of the tax law for the deduction of moving expenses, you...

Millions of Americans have hobbies such as sewing, woodworking, fishing, gardening, stamp and coin collecting, but when that hobby starts to turn a profit, it might just be considered a business by the IRS. Definition of a Hobby vs. a Business The IRS defines a hobby...

Whether you're self-employed or run a small business, here's a quick look at what you need to know about the Affordable Care Act. Self-Employed If you run an income-generating business with no employees, then you're considered self-employed. You can get coverage...