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When you hire someone to work around the house or baby-sit your children, do you need to pay tax for them? Keep reading to find out. If you employ someone to work for you around your house, it is important to consider the tax implications of this arrangement. While...

Would you like to legally deduct every dime you spend on vacation this year? The five strategies outlined in this article will show you how. Tim, who owns his own business, decided he wanted to take a two-week trip around the US. So he did--and was able to legally...

Question: How do I know if I have to file quarterly individual estimated tax payments? Answer: If you owed additional tax for the prior tax year, you may have to make estimated tax payments for the current tax year. If you are filing as a sole proprietor, partner, S...

If your lender cancelled or forgave your mortgage debt, you generally have to pay tax on that amount. But there are exceptions to this rule for some homeowners who had mortgage debt forgiven in 2012. Here are 10 key facts from the IRS about mortgage debt forgiveness:...