The amount of gambling losses you can deduct can never exceed the winnings you report as income. For example, if you have $5,000 in winnings but $8,00...

When you report the income on a Schedule C, the program will automatically calculate your self-employment taxes for you. When you receive a 1099-MISC ...

Sole proprietorship is the default business entity for freelancers. This means that if you start working as a freelancer without forming an LLC or cor...

Fire insurance is property insurance that provides additional coverage for loss or damage to a structure damaged or destroyed in a fire. Fire insuranc...

Settlement distribution is a highly complex, long-tailed process, involving large numbers of individual plaintiffs, vast dollar amounts, multiple stak...

Here is a list of allowable Schedule A itemized deductions: Medical and Dental Expenses. State and Local Taxes. Mortgage and Home Equity Loan Intere...