Ten Sources of Tax-Free Income

There are still ways to earn income that is free from federal income tax. With the various tax increases that have taken effect in recent years, tax-free income opportunities are more valuable than ever. Here are 10 sources of non-taxable income. 1. Gifts and...

Meal Deductions: Tax Rest for the Weary

In one significant case, the U.S. Tax Court allowed a taxpayer to claim deductions for meals that stretch the limits of the traditional “sleep-or-rest” rule for business travelers. (Bissonnette, 127 TC No. 10) Background Generally, you can deduct 50% of...