Understanding What Innocent Spouse Relief Is, and Whether You Need It
What happens if your spouse turns out to be a tax cheat, and you signed a joint tax return without realizing it. Can you be held responsible?
Writing Off Your Business Start-Up Expenses
New business owners, especially those operating small businesses, may be helped by a tax provision allowing them to deduct up to $5,000 of the start-up expenses and $5,000 of organizational costs in the first year of the business’s operation.
Vacation Home Rentals: How the Income Is Taxed
If you have a second home in a resort area, or if you have been considering acquiring a second home or vacation home, and with summer just around the corner, you may have questions about how rental income is taxed for a part-time vacation-home rental.
Owe the IRS Money? How Long Do They Have to Collect?
For most taxpayers who reported all their income, the IRS has three years from the date of filing the returns to examine them.
