If you’ve given money or property to someone as a gift, you may owe federal gift tax. Many gifts are not subject to the gift tax, but there are exceptions. Because gift tax laws can be confusing, here are seven tips you can use to figure out whether your gift is taxable.

If you’re a small business owner who uses your home for business you may be eligible to claim the home office deduction, which allows you to deduct certain home expenses on your tax return.

If you’re thinking about starting a nonprofit and want to apply for tax-exempt status under Section 501(c)(3) of the tax code, you’ll need to use Form 1023, Application for Recognition of Exemption Under Section 501(c)(3) of the Internal Revenue Code.

More than 400,000 eligible taxpayers whose withholding and estimated tax payments fell short of their total 2018 tax liability will have the estimated tax penalty automatically waived or refunded (if they already paid the penalty) on 2018 returns filed with the IRS.

Taxpayers should be aware that a new IRS impersonation scam email campaign is making the rounds. This latest scheme is yet another reminder that tax scams are a year-round business for thieves and taxpayers should be on guard at all times.

Of all the retirement plans available to small business owners, the SIMPLE IRA plan (Savings Incentive Match Plan for Employees) is the easiest to set up and the least expensive to manage.

Keeping full and accurate homeowner records is not only vital for claiming deductions on your tax return, but also for determining the basis or adjusted basis of your home.

An offer in compromise (OIC) is an agreement between a taxpayer and the Internal Revenue Service that settles a taxpayer’s tax liabilities for less than the full amount owed. That’s the good news.