Are you better off buying or leasing business equipment? Of course, the answer depends on a number of factors. But there are several valid reasons that may favor leasing over buying. [continue]
 

Acting as an executor or administrator of an estate can involve a great deal of work, depending on the estate involved. Many individuals agree to be named an executor for a spouse or relative, and then are left with a task that is much more complex and onerous than expected. [continue]
 

When you were a child, you may have traded baseball cards or other items with your friends. Now, the stakes are often much higher. For instance, you may be able to arrange a swap of real estate properties. [continue]
 

After years spent working as an employee, you may have decided to venture out on your own. In this new capacity, you're likely operating as an independent contractor for several firms. This setup generally provides more flexibility than you had before, but also requires a higher degree of legal protection for your work. [continue]
 

Even a profitable company should be looking for ways to be more efficient. There is usually plenty of room for improvement, especially when you compare your outfit with other operations in the same industry or other "success stories" in your community. So, the next question is: How do you bring your company up to the next level? [continue]
 

If you enjoy gambling from time to time - be it at a casino, racetrack or bingo - you may be eligible for certain tax breaks. However, many taxpayers have preconceived notions that are not quite accurate. Here is the truth behind several commonly-believed falsehoods. [continue]
 

After suffering several defeats in the courts, the IRS has finally conceded that long-distance phone services are not subject to federal excise tax. As a result, both individual and business taxpayers are in line for refunds or credits on their 2006 tax returns. [continue]
 

Is there any justice when it comes to deducting legal expenses? It depends on your point of view. Certain legal fees are currently deductible, others must be capitalized and still others provide no tax benefit whatsoever. [continue]
 

Bad news: If you owe the IRS money, it could slap a lien on your property until you are able to pay the tab. It doesn't matter if other creditors already have rights to the assets. However, if you take the proper steps, you may subordinate the IRS lien to other liens. [continue]
 

The home-sale exclusion is one of the "biggest and best" tax breaks on the books. But it still may not be big enough if your home has appreciated substantially since you acquired it. Even if you qualify for the exclusion, you might owe a sizeable tax when you finally sell the place. [continue]
 

There may come a day when you decide to transfer your home to your children or other relatives. Once the home is legally out of your hands, it is removed from your taxable estate. But there's a problem: You still need a place to live and you could be hit with a hefty gift tax on the home's value. [continue]
 

Common sense can go a long way in your daily life. The same thing holds true for your financial affairs. Keeping that in mind, here are eight helpful hints for managing your finances. [continue]
 

Suppose you suspect an employee of wrongdoing. Can you force him or her to take a lie detector test? Although the law is not exactly crystal clear in this area, you can only impose such a requirement under certain conditions. For example, under the Employee Polygraph Protection Act (EPPA), the testing must be related to an ongoing investigation of theft, embezzlement, misappropriation of funds, or industrial espionage or sabotage. [continue]
 

The Energy Policy Act of 2005 replaced the clean-fuel burning deduction with a tax credit. A tax credit is subtracted directly from the total amount of federal tax owed, thus reducing or even eliminating the taxpayer's tax obligation. The tax credit for hybrid vehicles applies to vehicles purchased or placed in service on or after January 1, 2006. [continue]
 

There are two easy and convenient options for obtaining copies of your federal tax return information - tax return transcripts and tax account transcripts - by phone or by mail. [continue]
 

You can avoid headaches at tax time by keeping track of your receipts and other records throughout the year. Good record-keeping will help you remember the various transactions you made during the year, which in turn may make filing your return a less taxing experience. [continue]