Things you should know about Barter Income
Bartering is the trading of one product or service for another. Often there is no exchange of cash. Small businesses sometimes barter to get products or services they need. For example, a plumber might trade [...]
Unemployment Benefits are they Taxable?
If you lose your job or your employer lays you off, you may be able to get unemployment benefits. The payments may be a welcomed relief. But you should know that they’re taxable. You [...]
Dependent and Exemptions, Explained in Plain English!
There are a few tax rules that affect everyone who files a federal income tax return. This includes the rules for dependents and exemptions. Here are some facts on these rules to help you [...]
Are Your Social Security Benefits Taxable?
Some people must pay taxes on part of their Social Security benefits. Others find that their benefits aren’t taxable. If you get Social Security, the IRS can help you determine if some of your benefits [...]
The Child Tax Credit May Cut Your Tax
If you have a child under age 17, the Child Tax Credit may save you money at tax time. Here are some key facts the IRS wants you to know about the credit. • Amount. The [...]