If you sell an asset that you’ve held for more than 12 months, the proceeds will be treated as long-term capital gains. The maximum tax rate on capital ga...

Corporation owners must file Form 1120, U.S. Corporation Income Tax Return. If you had no income, you must file the corporation income tax return, regardl...

I was widowed this year, and a friend told me she heard there are some tax breaks for widows. Can you help? Yes. As a widow, you may file a joint return f...

The signature must be on the line on the tax return designated for the signature of the tax filer. Or, include the tax preparer’s stamped, typed, signed, ...

However, the Goods and Services Tax (GST), introduction in July 2017, subsumed many types of excise duty. Today, excise duty applies only on petroleum and...

She moved home when she got pregnant as a student. I do a lot of the childcare, but she shouts me down when I try to talk to her about anything My 20-year...

Their income may be sporadic, and it can be difficult to know how much they will owe in taxes after business deductions. And no one deducts tax from their...

If you’re not pricing with profitability in mind, it doesn’t matter how many sales you make—you’ll never make a profit. Your product isn’t viable. It’s im...

Parents agree to give their children the money to put a down payment on a home. But what are the legal and gift tax implications? Who should be the owners...

The family condo was purchased by them for $450,000 and then his father died in 1985. His step-mother lived in the condo until she died and it recently so...