The general rule is that any ordinary and reasonable expense you pay while conducting a business activity is deductible in ...

When you file your tax return, you can minimize your tax liability through common tax deductions like student loan interest, mortgage interest and charitable donations. But are medical premiums tax ...

Let’s face it — tax season can be stressful. This is especially true for self-employed individuals and small business owners searching out every self-employed tax deduction and navigating other small ...

Question: My son lives in Arizona and receives pension income from the Arizona Retirement System (ARS). He is 64 years old and is now single with no dependents. The ARS allows him to purchase health ...

Yes — medical insurance premiums can be tax deductible, but only in specific situations that depend on how you’re insured, how you paid for coverage and whether you itemize or qualify for special ...

One of the best things about being self-employed is that you are entitled to a whole host of boss-less independence, flexible scheduling and most importantly, tax deductions. While some overlap with ...

As a self-employed person, you probably watched the development of the Tax Cuts and Jobs Act (TCJA) with some trepidation. The tax code is not often kind to the self-employed, nor are most of the ...

If you work for yourself, you don’t just pay income tax — you also pay self-employment tax. That’s the part that covers Social Security and Medicare. The upside? The IRS lets you deduct certain ...

While some overlap with those available to regular workers, self-employed individuals also have their own unique deductions. It’s important to note that the IRS definition of “self-employment” is ...

Working for yourself can have a lot of benefits, but taxes are generally not one of them. When self-employed, you are typically left picking up the tab on some of the costs your employer otherwise ...