If you sell an asset you’ve owned for a year or less, though, it’s a “short-term” capital gain. How much your gain is taxed depends on how long you owned ...

This year, your federal taxes are due May 17, which might spark some confusion for retirement savers wondering if they can still make 2020 contributions t...

Individual tax filers must report gains and losses for contracts according to mark-to-market rules. For example, assume a trader bought a regulated future...

The IRS can provide administrative relief from a penalty under certain conditions. You can request it by calling the toll-free number on your IRS notice, ...

Actual Car or Vehicle Expenses You Can Deduct Qualified expenses for this purpose include gasoline, oil, tires, repairs, insurance, tolls, parking, garage...

One of those decisions: How to treat large expenditures on truck or trailer equipment that are depreciable. Every owner-operator no doubt knows a truck or...

In Chinese communities, disrespect and isolation, or nonadherence to filial behaviors, can be considered a form of abuse. In July 2013, the National Peopl...

Paper Trail. Review your home improvement records to see how long ago the roof was replaced or reshingled. For instance, a typical asphalt shingle roof la...

CAN I PAY BACK TAXES ON SOMEONE ELSE’S HOUSE? Yes, you can always pay someone else’s property taxes. However, it is a complete myth that you can pay delin...

18 In Arizona, support payments are made until the child is 18. If the child does not complete school by age 18, child support continues until he/she grad...