If the old business was an S corporation, you'll have to file two returns: an appropriate one for the new business based on its legal status and Form 1120S for the old business, marked as final.

Freelancing can be notoriously difficult, but a new tax break might make things easier— that is, if you’re already wildly ...

Certain tax relief strategies can help small business owners resolve IRS debt without having to close, experts say.

The article discusses a recent decision of the Tax Court that disallows, under the judicially created public policy doctrine, ...

As inflation drives up the cost of almost everything, more Americans are turning to second jobs or weekend side gigs—whether ...

Millions of U.S. workers who earn tips and overtime pay may be eligible for a federal tax break when they file their 2025 ...

How to Claim Loss Due to Fire on Income Tax Returns. As with other casualty events, a fire can take a heavy emotional toll on you and a financial toll on your business. Insurance can help you ...

So, Trump’s “no tax on overtime” law could mean bigger federal tax refunds for many middle-income workers across the ...

When it comes time for a business owner to transition or sell their business, taxes tend to be one of the most important ...

Midrange earners stand to see meaningful savings, too. A warehouse supervisor earning $60,000 with $10,000 in overtime could shave a couple thousand dollars off their federal tax bill. A hotel ...

Tax preparation fees depend on the complexity of your return, who completes it, and where you live.