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21 Apr

Whether an individual is a casual or professional gambler, their winnings are taxable. However, the Treasury Inspector General for Tax Administration reports that gambling income is vastly underreported. Failing to report winnings accurately can lead to back taxes, interest, and penalties. Here’s what taxpayers need...

08:00 / Legal / Taxes
19 Aug

Most small business owners probably breathed a sigh of relief after filing their 2019 taxes (or requesting an extension). They’ll have a much easier time filing next year if their tax-related files (whether paper or digital) are culled of clutter. This article provides both general...

08:30 / Legal / Taxes
23 Feb

The domestic production activities deduction provides a tax break for certain “domestic production activities.” Unfortunately, many businesses tend to overlook it because they believe the tax break applies only to a few industries. This article points out that the deduction remains available to a wide...

09:30 / Taxes