This article is the first in a new column, Personal Financial Planning, covering the role of CPAs in advising individuals and ...

Learn how tax deductibles work to lower your taxes. Discover common deductions like student loan interest, charitable ...

Wondering what tax reporting might look like under the One Big Beautiful Bill Act (OBBBA)? The IRS has released drafts of some 2025 tax forms (that you’ll file in 2026), including a draft of the new ...

The Internal Revenue Service has announced several changes for the 2002 tax year that adjust tax laws to reflect inflation. One change affects the way donors calculate their charitable deductions.

Some taxpayers love to test the IRS boundaries on allowable deductions. Consider the business owner who had his store burned down and tried to deduct the arsonist's payment as a "consulting fee," or ...

President Donald Trump’s One Big Beautiful Bill Act (OBBBA) raised the state and local tax (SALT) cap deduction to $40,000 from the previous $10,000, as previously reported by GOBankingRates. For ...

Janet Berry-Johnson, CPA, is a freelance writer with a background in accounting and income tax planning and preparation for individuals and small businesses. Her work has appeared in Business Insider ...

In general, the home office must be used exclusively and regularly as the principal place of business or to meet and deal with customers in the normal course of the business. If the taxpayer is an ...