Is Your Hobby Actually A Business?

If you invest a ton of personal time and effort into your hobby, plus you have multiple customers and keep professional records, your hobby might actually be a business. Turning your hobby into a business means you can deduct qualified business expenses. But...

Don’t Pay Tax on a Home Sale

The law lets you sell your home tax-free if you meet certain requirements. The home must have been owned and used as your principal residence for at least two of the five years prior to the sale. Couples can enjoy up to $500,000 of tax-free profits from a home sale,...