Is it a Hobby or Business?

Is it a Hobby or Business?

If you have a fledgling or small sideline that you want to be able to call a “business” for IRS taxes, it is important to know what distinguishes a business from a hobby. A hobby may not give you deductions on your personal federal income tax return if you are perhaps...
Summer job, will my child have to file taxes?

Summer job, will my child have to file taxes?

Will My Child Need To File Taxes After Summer Employment? If there is one thing teenagers have in common, it’s the desire to become independent. Teenagers eagerly await turning 16 so that they can obtain their driver’s license. Naturally, they may also want a car of...
What is a Fuel Tax Credit?

What is a Fuel Tax Credit?

Taxes can be complicated and while we all wish we were able to do our taxes on our own, sometimes this just isn’t feasible. It is especially important to ensure that your taxes are done by a certified professional when you file a more complicated type of return....
What Is The IRS Fresh Start Program

What Is The IRS Fresh Start Program

Need Help Paying Your Tax Bill? Owing money to the IRS isn’t a good feeling. If you owe taxes but don’t have the money or ability to pay, don’t worry.  The IRS’ Fresh Start Program aids taxpayers who have difficulties paying their taxes. What is the Fresh Start...
What Are Qualified Educational Expenses?

What Are Qualified Educational Expenses?

What Are Qualified Educational Expenses? Qualified education expenses are amounts paid for tuition, fees and other related expenses for an eligible student. There are different qualified educational expenses depending upon the level of schooling the student is at....