Home Business Use of Your Home

IRS Tax Tip 2015-42, March 19, 2015 If you use your home for business, you may be able to deduct expenses for the business use of your home. If you qualify you can claim the deduction whether you rent or own your home. If you qualify for the deduction you may use either the simplified …

Social Security Updates 2017

The Social Security Administration has announced that the wage base for computing the Social Security tax (OASDI) in 2017 will increase to $127,200. The Social Security Administration has announced that the wage base for computing the Social Security tax (OASDI) in 2017 will increase to $127,200. The Federal Insurance Contributions Act (FICA) imposes two taxes …