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Do you plan to donate your time to charity this year? If travel is part of your charitable giving, for example, driving your personal auto to collect donations from local business, you may be able to these travel expenses on your tax return and lower your tax bill....

Approximately 4.2 million employees are expected to benefit from the new overtime rule that goes into effect on December 1, 2016. Here's what employer need to know about the new overtime regulations. What is the Overtime Rule? The final overtime rule raises the salary...

The health care law contains tax provisions that affect employers. The size and structure of a workforce--small or large--helps determine which parts of the law apply to which employers. Calculating the number of employees is especially important for employers that...

Special tax law provisions may help taxpayers and businesses recover financially from the impact of a disaster, especially when the federal government declares their location to be a major disaster area. With hurricanes, floods, and other natural disasters affecting...

There are a number of end of year tax planning strategies that businesses can use to reduce their tax burden for 2016. Here are a few of them: Deferring Income Businesses using the cash method of accounting can defer income into 2017 by delaying end-of-year invoices...

Tax planning strategies for individuals this year include postponing income and accelerating deductions, as well as careful consideration of timing related investments, charitable gifts, and retirement planning. General tax planning strategies that taxpayers might...

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 gamble, these tax tips can help you at tax time next year: Here's what you need to know about...

Miscellaneous deductions such as certain work-related expenses you paid for as an employee can reduce your tax bill, but you must itemize deductions when you file to claim these costs. Many taxpayers claim the standard deduction, but you might pay less tax if you...

Millions of people enjoy hobbies such as stamp or coin collecting, craft making, and horse breeding, but the IRS may also consider them a source of income. As such, if you engage in a hobby that provides a source of income, you must report that income on your tax...

When you start a business, you need to know about income taxes, payroll taxes, understanding your tax obligations, and much more. Here are five tips to help you get your business off to a good start: 1. Business Structure. One of the first decisions you need to make...