The standard deduction is a portion of income that is not subject to tax and can be used to reduce a tax bill instead of ...

Learn how the Dividends Received Deduction (DRD) helps U.S. corporations reduce taxable income by alleviating triple taxation ...

If you're over 73 years old, you're aware that every now and then, you must make a required withdrawal from your Individual ...

Learn how Section 1250 impacts taxes on gains from depreciated real estate sales, including rules, examples, and key differences between property types.

Long-term capital gains — for assets held for a year or longer — are taxed at a 0, 15 or 20 percent rate, depending on your ...

Discover the role of petty cash in business, from handling small expenses to balancing accounts. Learn the steps for proper management and recording.

The Internal Revenue Service (IRS) considers this an abuse of tax laws designed to prevent taxpayers from claiming unjustified deductions. Wash sales have long been illegal for securities like stocks.

After serving with distinction as a cryptologist in the U.S. Navy, he attended UT and graduated with a Bachelor of Arts in ...