Rental property, rental income – 7 tax tips

IRS.gov – Do you rent property to others? If so, you’ll want to read the following seven tax tips from the IRS about rental income and rental expenses. You generally must include in your gross income all amounts you receive as rent. Rental income is any payment you receive for the use of or occupation […]

Bartering and income taxes – four facts

In today’s economy, small business owners sometimes look to the oldest form of commerce – the exchange of goods and services, or bartering. The IRS wants to remind small business owners that the fair market value of property or services received through barter is taxable income. Bartering is the trading of one product or service […]

Are your Social Security benefits taxable?

IRS.gov – If you received Social Security benefits in an earlier year, you need to know whether or not these benefits are taxable. Here are seven facts the Internal Revenue Service wants you to know about Social Security benefits so you can determine whether or not they are taxable to you. 1) How much – […]

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