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August 15, 2014
The Internal Revenue Service (IRS) and the Treasury Inspector General for Tax Administration (TIGTA) say that a number of individuals have received unsolicited phone calls from people claiming to be the IRS and demanding immediate payment of...
August 11, 2014
Millions of people enjoy having hobbies — whether it’s photography, antiquing, craft making, collecting coins, or breeding horses. It usually costs money to support a hobby, but in some cases, your hobby can also make you money.
August 10, 2014
As many are still recovering from the Great Recession, the idea of having income (or even excess income) subject to tax is the last thing people want to think about.
Generally, tax law defines income as “undeniable accessions to wealth”...
August 4, 2014
Generally, if you rent a home to others, you are required to report the rental income on your Federal tax return. However, you may not need to report the income if you use the property as your home and you only rent it out for a short period of...
July 31, 2014