Everyone wants to pay less tax but no one wants to experience a tax investigation with all the stress that involves. There are often ways to legitimately reduce your tax liability but there are plenty of other means that are clearly illegal. There is a key distinction here between tax avoidance and tax evasion. The [...]

Looking for legitimate tax deductions for your income tax returns this year? Here are three common expenses you can deduct on Schedule C, all starting with the letter "E". Employees. There are several legal deductions related to your employees. Obviously, the compensation you pay them is reported on Schedule C, Line 26. Even though the [...]

Here’s a simple six-step bookkeeping system that will put thousands of dollars of tax savings in your pocket and keep the IRS out of your life forever.

People start home based internet or direct sales businesses for many reasons. However, many of these same people still do not understand or realize all of the tax advantages that they qualify for.

Many of us wonder, Are travel expenses tax deductible? or Is there any way for me to take a vacation and write part of it off? Well the answer to that is yes if you do it right.

Many people do not think ahead about reducing taxes during their retirement years. But actually there are many ways to reduce the amount of taxes that you pay during your retirement years.

When considering options for financing all or part of your college education, scholarships and grants are good choices. However, these are only available in limited quantities and not every student qualifies.

Partnerships are extremely flexible entities which makes them incredibly powerful in a tax strategy. Flexibility in a tax strategy is key because things change!

There are certain records that are particularly important when it comes to filing your taxes. The IRS doesn’t have specific regulations about record keeping systems however they provide basic guidelines.

This probably won’t come as any great shock, but it’s never a good idea to go into an IRS office by yourself if you discover that you are being audited or that the IRS is looking upon you with suspicion.