Just to clarify, if you donate money to 4-H ALBERTA, you qualify for a tax deductible receipt, but if you donate money to a LOCAL CLUB, you do not qualify...

Under today’s system, non-profits are exempt from paying taxes—not only federal business income taxes but often state and local levies such as property, i...

To qualify as a dependent, Your parent must not have earned or received more than the gross income test limit for the tax year. Generally, you do not coun...

Under the Affordable Care Act, most immigrants qualify for health coverage, including the following groups: Lawful permanent residents or (“green card hol...

Bonus depreciation is calculated by multiplying the bonus depreciation rate (currently 100%) by the cost basis of the acquired asset. For a business that ...

The IRS Fresh Start Program is an umbrella term for the debt relief options offered by the IRS. The program is designed to make it easier for taxpayers to...

Under the Internal Revenue Code, all section 501(c)(3) organizations are absolutely prohibited from directly or indirectly participating in, or intervenin...

In a section 125 plan or cafeteria plan, employees can pay qualified medical, dental, or dependent-care expenses on a pretax basis, which has the effect o...

Almost all accountants offer ‘no obligation free initial consultations’. I see no problem with this as long as you’re aware that this need not extend to g...

If the losses exceed the gains, there is no tax, and up to $3,000 of losses can be deducted against ordinary income like wages. If the trader has losses b...