Top 10 Ways to Avoid an IRS Audit File your tax returns on time (even if you owe and can’t pay). Be aware of your industry averages and common expenses. A...

Because a 501c7 is not a charitable organization, donors may not receive a tax deduction when they contribute funds. Social clubs generally describe their...

DEFINITION: The special minimum benefit is a special minimum primary insurance amount ( PIA ) enacted in 1972 to provide adequate benefits to long-term lo...

Then, at the end of the year, that worker calculates their taxes and compares the amount withheld to the amount they owe. If the IRS withheld more than th...

The most commonly used rule of thumb is simply a percentage of the annual sales, or better yet, the last 12 months of sales/revenues. Another rule of thum...

There are income limits for Roth IRAs. As a single filer, you can make a full contribution to a Roth IRA if your modified adjusted gross income is less th...

Some instances where you can claim tax deductions for business expenses are: Attorney fees, court costs, and similar expenses if these costs are incurred ...

Any tax debt your partner accumulated before marriage is their own responsibility, which means your tax refund is protected. However, sometimes the IRS ma...

Transfers of Interest A partner’s interest in a general partnership represents his right to share in a certain proportion of partnership profits, losses a...

A tax treaty is covered by the MLI if both Canada and its treaty partner have listed the treaty for purposes of the MLI and have brought the MLI into forc...