Tax Tips

Five Things to Remember about Hobby Income and Expenses
 

Five Things to Remember about Hobby Income and Expenses

Posted: November 22, 2017
A taxpayer must report income on their tax return even if it is made from a hobby. However, the rules for how to report the income and expenses depend on whether the activity is a hobby or a business.


Participating in the Sharing Economy Can Affect Taxes
 

Participating in the Sharing Economy Can Affect Taxes

Posted: November 9, 2017
Participating in the sharing economy may affect a person’s taxes. These taxpayers can visit the Sharing Economy Tax Center on the IRS website to find resources that can help them meet their tax obligations.


Tax-Related Identity Theft
 

Tax-Related Identity Theft

Posted: October 12, 2017
Victims of tax-related identity theft may feel violated and the process of resolution may be frustrating, especially when tax refunds are delayed for many months. It is imperative that tax professionals educate clients and, to the extent possible, facilitate the resolution process.

Job Search Expenses Can be Tax Deductible
 

Job Search Expenses Can be Tax Deductible

Posted: August 25, 2017
Taxpayers who are looking for a new job that is in the same line of work may be able to deduct some job-hunting expenses on their federal income tax return, even if they don’t get a new job.

Moving Expenses May Be Deductible
 

Moving Expenses May Be Deductible

Posted: August 22, 2017
Taxpayers may be able to deduct certain expenses of moving to a new home because they started or changed job locations.