Vacation Home Rental Tips

If you rent a home to others, you usually must report the rental income on your tax return. However, you may not have to report the rent you get if the rental period is short and you also use the … Continued

Revenue Procedure 2015-30: Inflation Adjusted For HSAs

This revenue procedure provides the 2016 inflation adjusted amounts for Health Savings Accounts (HSAs) as determined under § 223 of the Internal Revenue Code. Annual contribution limitation. For calendar year 2016, the annual limitation on deductions under § 223(b)(2)(A) for an … Continued

Revised Tax Credit Certification Form Now Available

Businesses and tax-exempt organizations planning to claim the work opportunity tax credit (WOTC) for eligible workers hired during 2014 have until April 30 to request the certification required for these workers. Newly revised Form 8850 is used by employers to … Continued