taxes

Many families assume that once parents give away property, cash, or investments during their lifetime, the tax story is over. In reality, lifetime gifts can create unexpected tax questions for both the people making the gifts and those receiving them. Understanding what was transferred, when it happened, and how it was documented is the first step toward avoiding costly mistakes.

Canadians don't usually pay tax on contest winnings, but what happens if they win in the U.S.? Learn how cross-border prize taxes work for Canadians and Americans alike.

Looking to save money on your tax bill? Consider opening up shop in one of the countries with the world's lowest corporate tax rates.

Most people have a jar of spare change somewhere. You took things a little further. Over the years, loose coins turned into rolls, the rolls turned into boxes, and now there's nearly $5,000 sitting in your basement. It sounds harmless enough—until you start wondering what happens when you finally try to turn all that metal into money. Could a giant pile of change raise questions you weren't expecting?

You walk into a casino hoping for a lucky night. But while you might know that the IRS wants its share when you win, the bigger question for most of us is: can we write it all off when we lose? The answer is more complicated than most gamblers realize.

Found out you owe the IRS after your spouse handled taxes? Learn about innocent spouse relief, your options, and how to handle unexpected tax debt.