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This article was originally published by Roger Russellin with accounting TODAY for the WebCPA on September 26, 2013. There are a number of penalties associated with the Affordable Care Act. Until [...]

Some are surprised to learn they’re due a large federal income tax refund when they file their taxes. Others are surprised that they owe more taxes than they expected. Check [...]

Congress’s decision not to include a proposed minimum term for Grantor Retained Annuity Trusts (GRATs) in the tax legislation passed in January 2013 — combined with low interest rates — [...]

The IRS offers several payment options for those who owe taxes. Here are eight tips for those who owe federal taxes. 1. Tax bill payments.  If you get a bill from [...]

Did you know....taking money out early from your retirement plan can cost you an extra 10 percent in taxes? An early withdrawal normally means taking money from your plan, such [...]

The American Opportunity Credit and the Lifetime Learning Credit may help you pay for the costs of higher education. If you pay tuition and fees for yourself, your spouse or [...]

This article appeared in U.S. News & World Report and is worth repeating. The age you begin to collect Social Security benefits affects the payments you will receive for the rest [...]

For most who work in the Corridor. The daily commute can be taxing. Up and down the Tollway in bumper to bumper traffic, trying to exceed 20 mph while driving [...]

As the kids head back to school, it’s a good time to think about Coverdell Education Savings Accounts (ESAs). One major advantage of ESAs over another popular education saving tool, [...]

If you rent out your vacation home for 15 days or more, you must report the income. But exactly what expenses you can deduct depends on whether the home is [...]

If you discover an error after you file your tax return, we can help you correct it. 1. When to amend a return. You should file an amended return if [...]

Going to college can be a stressful time for students and parents. The IRS offers tips about education tax benefits that can help offset some college costs and maybe relieve [...]

Do you work from home? If so, you may be familiar with the home office deduction, available for taxpayers who use their home for business. Beginning this year, there is [...]

If you itemize deductions on your tax return, you may be able to deduct certain miscellaneous expenses. You may benefit from this because a tax deduction normally reduces your federal [...]

To qualify for a Home Office Deduction, a home office must be used for business exclusively and at all times, and any use for a nonbusiness purpose disqualifies the space. [...]