Taxes

The pros and cons of filing a tax extension

By filing a tax extension application using IRS Form 4868, you are asking the Internal Revenue Service (IRS) to give…

Exclusion of home sales from capital gains tax

Single people can exclude up to $250,000 in earnings from capital gains tax when they sell their primary personal residence,…

How dividends are taxed and reported on tax returns

Qualified dividends are a type of investment income earned from stocks and mutual funds that contain stocks. They are a…

How to File a Part-Year Resident Status Tax Return

Moving to a new state comes with a lot of hassles, including packing and unpacking, setting up utility hookups, and…

Office supplies and office expenses in business taxes

It’s important to know the difference between office supplies and office expenses because these costs are handled differently on your…

Business equipment versus supplies for tax deductions

When it comes time for a business owner to complete business tax forms, it can be a bit confusing trying…

Can you claim a child and dependent care tax credit?

Paying for child or dependent adult care is one of the largest monthly expenses many families face. But without care,…

How to get a GST number in Canada

A Goods and Services Tax (GST) number is a unique tax identification number assigned to a business by the Canada…

Filing federal tax returns on time by mail

The deadline to file 2020 federal income tax returns is May 17, 2021. Individuals and businesses affected by winter storms…