If you may be eligible for disability income should you become disabled, it’s important to know whether that income will be taxable. As is often the case with tax questions, the answer is “it depends.”
If you’re self-employed and run your business from home, or perform certain functions there, you might be able to claim deductions for home office expenses against your business income.
Trusts and estates – Filing an income tax return for the 2022 calendar year (Form 1041) and paying any tax, interest, and penalties due, if an automatic five-and-a-half-month extension was filed.
The IRS home sale gain exclusion rule allows an exclusion of gain up to $250,000 for a single taxpayer or $500,000 for a married couple filing jointly. This exclusion can be used over and over during your lifetime (but not more frequently than every 24 months), as long as you meet certain ownership and use tests
If you’re self-employed and use your car, SUV, or other vehicle for business, you can deduct certain business-related vehicle expenses.