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Serving in the U.S. Armed Forces brings distinctive financial challenges — and some well-deserved tax advantages. Identifying and claiming these tax breaks can make a substantial difference at filing time. Here are some potential benefits...

As the year draws to a close, many businesses look for ways to recognize and thank their employees. From gift cards to holiday treats to service awards, the options are plentiful. But not all gifts are treated equally by the IRS. The tax...

Know the rules for backup withholding When your business hires independent contractors, you’re generally not responsible for withholding tax from their compensation. But there are circumstances in which you should withhold a certain...

Section 529 plans are most commonly used as a tax-favored way to save and pay for college expenses. You might be reluctant to open a 529 account for your child because you’re not sure he or she will pursue a college degree. Or maybe...

If you’re building up a small business but haven’t yet needed to borrow funds to expand or smooth out cash flow irregularities, you’re doing something right. Or if you have borrowed and everything went smoothly, kudos again...

Don’t wait until the last minute  If you requested an extension to file your tax return after the April 15, 2025, due date, the extended deadline is Wednesday, Oct. 15. If you have the information you need, you may want to file now...