Inherited properties can take advantage of the stepped-up tax basis. Ordinarily, proceeds are calculated using the purchase price plus any improvements ma...

Additional withholding: An employee can request an additional amount to be withheld from each paycheck. How do you know what your federal withholding is? ...

If you haven’t received yours by mid-February, here’s what you should do: Contact your employer. You should first ask your employer to give you a copy of ...

Under the Income Tax Law both husband as well as the wife would be entitled to have their separate sources of income, separate funds of their own and so c...

If your tax return is selected for an audit, you will be notified by the IRS by mail. The IRS does not place phone calls or send e-mails to notify the tax...

You’re going to have to pay tax on all of your winnings, and the casino will issue you a W-2G form, a special IRS document designed specifically for “cert...

California’s Proposition 13, passed in 1978, defines how property taxes are calculated and reassessed. Property taxes are calculated by multiplying the pr...

Vehicle expenses Registration and Insurance. Truck repairs and parts. Cleaning and general maintenance. Running costs. Parking fees. Tolls. Depreciation o...

Louisiana does not impose any state inheritance or estate taxes. It’s also a community property estate, meaning it considers all the assets of a married c...

Partners don’t file joint returns: Each partner takes her share of the business income expenses and reports them individually. Assuming your partnership’s...