A frustrating thing about working hard to earn money is knowing the IRS will tax a portion of your earnings. Federal taxable income generally includes wages, tips, royalties, commissions ...

Are medical expenses tax-deductible? Taxpayers can deduct qualified, unreimbursed medical expenses that are more than 7.5% of their adjusted gross income. The 7.5% threshold used to be 10% ...

Nobody wants to spend late nights combing through spreadsheets, reconciling expenses and accounting ... and education are also essential to track because they can lower taxable income and foster ...

Double taxation refers to income tax being paid twice on the same source of income. This can occur when income is taxed at both the corporate and personal level, as in the case of stock dividends.