Anyone who has run a business of any size understands how confusing and, at times, complex the tax code can seem. So deferred tax assets (DTAs) can be challenging. However, understanding them is ...

Read about IRS Publication 334, a vital tax guide for sole proprietors and statutory employees, offering essential tips on deductions, credits, and filing Schedule C.

The alternative minimum tax (AMT) calculation determines whether a taxpayer must pay an additional amount beyond their regular income tax liability. To calculate AMT, taxable income is adjusted by ...

The Foreign Tax Credit is a way to lessen your U.S. tax liability and offset income taxes paid to other countries. Find out if you qualify this tax season: ...

A flat income tax system is one where everyone is taxed at the same rate, no matter how much money they earn throughout the year. Many people argue that it is a fair way to tax everyone in an equal ...

Preparing a 2025 tax return is likely to take more time, as workers who received tips or overtime pay in 2025 figure out what qualifies for new tax breaks. IRS gives some very specific examples in ...

Corporations report their total cash payments of income tax — federal, state, and foreign combined — but they don't identify, nor does the IRS reveal, how much federal income tax they pay. We believe, ...