Residency is important because residents of Minnesota are taxed on worldwide income—no matter if it's earned overseas or in another state. If you're considered a Minnesota resident, everything reported on your federal return is going to be...

Can you itemize, or will you be claiming your new standard deduction? Once you understand the levers available, you’ll know which among them you can pull when it comes to paying Uncle Sam.

 Do you want to be able to deduct business expenses? Take the right steps to ensure your business will not be deemed a hobby by a taxing authority come audit time. Pending further guidance from the IRS, an effect of tax reform was the elimination...

The Tax Cuts and Jobs Act passed in December changed the rules regarding the deductibility of mortgage and home equity loan interest. Prior to the law change interest on up to $1,000,000 of home acquisition debt and interest on up to $100,000 of...

[9/26/18 Update: The IRS has issued further guidance on how to calculate the credit—and there is also a Q&A section.]

Congress passed a two-year budget deal in the early morning hours on Friday, February 9th.  Buried in this 652-page budget document are extensions of many provisions that expired in 2016. There are a lot of interesting provisions that could prove...

On November 2, the House released the long-awaited Tax Cuts and Jobs Act. The Act is broad and covers multiple aspects of individual and corporate taxation. The Act, which is not yet law, will likely see some changes before it is finalized. We will...

UPDATE: The Tax Cuts and Jobs Act has become law since this article originally appeared. This article is still accurate on the state level. If you’d like to learn about the key provisions of tax reform, please click here. While federal tax changes...

About this time last year, the Internal Revenue Service issued an alert to payroll and human resources professionals to beware of phishing scams that were made to look like requests from company executives seeking personal employee...

  Normally, the buzz around my house this time of the year would be regarding the Kentucky Derby, which takes place on the first Saturday of May every year. This year, however, the buzz is all about the much talked-about and long-anticipated boxing...