Many people give to charity each year during the holiday season. Remember, if you want to claim a tax deduction for your gifts, you must itemize your deductions. There are several tax rules that you…

Many taxpayers may have heard of Individual Retirement Arrangements, or IRAs, but some don’t know how IRAs help them save for retirement. People can set up an IRA with a bank or other financial institution, a…

Form 1099-K, Payment Card and Third-Party Network Transactions, is an IRS form that is used to report certain payment transactions. If taxpayers receive a Form 1099-K, they should use that information with their other tax records…

When working with the IRS, taxpayers have a right to represent themselves. They can also choose a third-party agent to represent them, like a tax professional or family member. Taxpayers should be sure that their…

Summer day camp expenses may count towards the Child and Dependent Care tax credit. Many working parents arrange for care of their younger children under age 13 during the summer. A popular solution is a…

Each year, many people get a larger refund than they expected. Some find they owe a lot more tax than they thought they would. If this happened to you, review your situation to prevent another…

Now that fall is here and school has started, many teachers are dipping into their own pockets to buy classroom supplies. Doing this throughout the year can add up fast. Fortunately, eligible educators may be…

Many taxpayers make quarterly estimated tax payments during the year to stay current on their taxes. Anyone who paid too little tax in 2022 needs to make a fourth quarter payment on or before Jan….