The IRS allows you deductions for the portion of your house that you use to operate your stock photo business. However, if you are a salaried person working at your "main job," and your stock business is a part-time venture, you cannot use your office-in-the-home expenses to create a net operating loss.

If you are an eligible student for the tuition, education, and textbook tax credits, this article is for you. Eligible students should be cautious filing their tax returns. If you are an eligible student in Canada, you educational institute will issue you a tax slip called Tuition and Education Amounts Certificate.

There is nothing easier than filing your return, if you have a regular job. Your taxes are subtracted from your wages automatically. You need two hours, the max, for filing.

In addition to income and sales taxes, there are dozens of strange taxes American taxpayers are forced to pay every year. These taxes range from taxes on illegal drugs to taxes on the production of blueberries. Below is a full list of the top 8 craziest taxes that citizens pay across the country.

Now that tax season is over the government is sending out millions of dollars in tax refunds. But instead of wasting it within hours, consider these top 10 smart ways to spend your refund.

There are many people who will look for even the tiniest deduction on their annual tax return but will not bother about minimizing the ultimate tax they might have to pay on their assets. This tax is estate tax. In order to minimize estate tax, you have to plan and this takes effort.

Filing of sales tax is a serious matter. The seller collects sales tax on the behalf of the state and files the returns with the state each month or year. The payment of sales tax is based on the volume of business that seller conducts.

Income tax frauds are generally categorized into two types -- personal income tax fraud and business income tax fraud. In the case of business income tax frauds, the owner of the company may use his corporate credit card for expenses related to his family; like paying for family vacations; and then reporting these expenses as valid business related expenses and deducting the same from taxable income.

Interest received from bank accounts, interest received on loans made to others, and interest from other sources are termed as taxable interest. Some other examples of taxable interest are interest on money market certificates, and deposited insurance dividend. In other words interest that can be withdrawn and received comes under taxable income.

A person who is disabled can enjoy tax exemption if the disability fulfills the requirements for exemption. Disability means that a person who is physically or mentally challenged and cannot perform major life activities. Even a blind person who cannot engage in his work, or cannot engage himself in a work which is gainful to his family due to his physical handicap is considered disabled.