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Many businesses hire part-time or full-time workers, especially in the summer. The IRS classifies these employees as seasonal workers, defined as an employee who performs labor or services on a seasonal basis (i.e., six months or less). Examples of this kind of work...

While not all mistakes on tax returns cause delays in refunds, some do. As the May 17 deadline approaches, it pays to steer clear of the ten tax return errors listed below. 1. Not using electronic filing. While this isn't necessarily a mistake per se, electronic...

When it comes to working on your taxes, earlier is better, but many people find preparing their tax return to be stressful and frustrating and wait until the last minute. Complicating matters this year is tax reform and the newly redesigned Form 1040. If you've been...

If you donate a car to a qualified charitable organization and intend to claim a deduction, you should be aware of the special rules that apply to vehicle donations. Charities typically sell donated vehicles. If the vehicle is sold by the charitable organization you...

As a quick reminder, the purchase of personal protective equipment, such as masks, hand sanitizer and sanitizing wipes, for the primary purpose of preventing the spread of coronavirus are deductible medical expenses. The amounts paid for personal protective equipment...

The Coronavirus, Aid, Relief and Economic Security (CARES) Act made it easier to access savings in IRAs and workplace retirement plans for those affected by the coronavirus. This relief provided favorable tax treatment for certain withdrawals from retirement plans and...

The gig economy is also referred to as the on-demand, sharing or access economy. People involved in the gig economy earn income as a freelancer, independent worker or employee. Typically, an online platform is used to connect people with potential or actual customers...

The Paycheck Protection Program Extension Act of 2021was signed into law on March 31, 2021, extending the deadline to apply for a loan by an extra 60 days, from March 31 to May 31, 2021. The law also gives the Small Business Administration (SBA) an additional 30 days...

Generally, unemployment compensation received under the unemployment compensation laws of the United States or of a state is considered taxable income and must be reported on your federal tax return. However, a new tax break - in effect only for the 2020 tax year -...

On March 12, following the approval and signing of the American Rescue Plan Act, the first batch of $1,400 stimulus payments - part of the third round of Economic Impact Payments - were sent out by the IRS. While most payments were sent out via direct deposit,...