The $250,000 ($500,000, if married) home sale gain exclusion break is one of the great tax-saving opportunities. Unmarried homeowners can potentially exclude gains up to $250,000, and married homeowners can potentially exclude up to $500,000....

Three bad things happen when you file your tax return late. What’s Late? You can extend your tax return and file during the period of extension; that’s not a late-filed return. The late-filed return is filed after the last extension expired....

It’s hard to imagine that a small business does not qualify for some or all of the employee retention credit (ERC). And remember, this is a tax credit—one of the very best things that tax law has to offer. True, it’s not as valuable as some...

Do you claim a tax deduction for a home office? Should you include or exclude your garage space in your calculations of business-use percentage? Ronald Culp earned an office deduction for 78 percent of his home. That’s a nice percentage, but...

If you are suffering or about to suffer an IRS audit, you should know how your tax positions stack up against the IRS examiners’ positions. In most cases, you are discussing the facts, not the law, and you prove your facts with receipts,...

If you made an error on your tax return, don’t worry—there are two easy ways to fix it: 1. A superseding return 2. A qualified amended return A superseding return is an amended or corrected return filed on or before the original or extended due...