Capital Gains

Do you take your cost basis into account when it’s time to sell an asset or investment? When you sell an asset or investment, your cost basis—or the amount you originally paid for it—is subtracted from the sales price to determine your capital gain on the sale. If your last tax return included some surprises…

Child and Dependent Care Credit

You may be eligible for this credit if you paid for services outside of your household to take care of your child provided the payments were for a qualifying child under the age of 13 or a qualifying individual who regularly spends at least 8 hours each day in your household. The total expenses that…

Home Office Deduction

If you use part of your home for business, you may be able to receive a deduction. This deduction is available to homeowners and renters, and applies to all types of homes. Until 2013, you used to have to allocate all the expenses of your home (mortgage interest, insurance, utilities, repairs, and depreciation) As of…