Question: I have been in business for four years operating as a sole proprietorship filing on Schedule C of Form 1040. I have been debating switching to an S corporation. Can you please compare the ...

In this week's Ask the Editor Q&A, Joy Taylor answers tax questions on the 20% deduction for qualified business income or QBI.

The U.S. District Court ordered the release of taxpayers’ tax returns in a workers’ misclassification case. Taxpayers, a group of workers, asserted claims against their employer for alleged ...

IRS is developing a new Schedule 1-A to use to claim new deductions for tip income, overtime pay, car loan interest and new tax break for those 65 an older. IRS and Treasury give new guidance on what ...