In this week's Ask the Editor Q&A, Joy Taylor answers tax questions on the meaning of modified adjusted gross income, or MAGI ...

Benjamin Franklin coined the saying, “In this world, nothing is certain but death and taxes.” But what about when death and taxes coincide, such as when someone dies during the year and has a tax ...

If your small business is a sole proprietorship, partnership, limited liability company or S-corporation, you and any co-owners pay the business's taxes through the income you report to the Internal ...

Taxpayers often make mistakes when filing their taxes, such as inputting incorrect personal information or making math errors. Choosing the wrong filing status or claiming ineligible credits can lead ...

Every time Sheneya Wilson, CPA publishes a story, you’ll get an alert straight to your inbox! Enter your email By clicking “Sign up”, you agree to receive ...

As tax season approaches, seniors and retirees are gearing up to file their taxes, and the IRS Form 1040-SR has been designed to cater to their needs. TRAVERSE CITY ...

If you are a sole proprietor, you report your business profit or loss on Internal Revenue Service Schedule C of Form 1040, Profit or Loss From Business. If you sell merchandise or manufacture a ...

Realizing you made a mistake on your tax return? Don’t panic. If you overlooked a valuable deduction, say, or forgot to report some of your income, you can simply file an amended return. Amending your ...