TaxCure Blog

When you work from home, whether you are telecommuting and doing work for an employer, or whether you are running a home business, you may have the option to take a tax deduction for the business use of your home. The home office deduction can be useful, but before you take it, you should consider the pros and cons associated with taking this tax deduction.

When we think of the IRS, few of us think about social media. However, the IRS does recognize that many taxpayers use social media regularly. As a result, you can get answers to tax questions, and get helpful tips year-round by taking advantage of the social media tools offered by the IRS.

An itemized tax deduction is a qualified expense by which a US taxpayer can claim on their Federal tax returns in order to lower their taxable income. Many tax deductions are subject to the 2% limit, which means you can only deduct expenses that are 2% above your adjusted gross income (AGI). However, there are tax deductions that can be taken without itemizing your return, called above-the-line tax deductions, and can help you save money even if you take the standard deduction.

The debate over US Corporate tax rates recently has been a hot topic of debate among politicians, economists, the media, and more. Some have stated that the US has the highest corporate statutory tax rate in the world, while others state that the effective tax rate is lower. They are both right, but what about the US effective corporate tax rate vs. other developed countries?

One of the most discouraging financial situations to be in has to do with being unable to pay your tax obligation. Thousands of Americans feel this sensation every year. However, the IRS has a program designed to ease some of the burdens.