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The summer months are a popular time to buy or sell a house. New homeowners should add reviewing the tax deductions, programs and housing allowances they may be eligible for on their move-in to-do list. Deductible House-Related Expenses Most home buyers take out a mortgage loan to buy their home and then make monthly payments […]
Homeowners: Review House-Related Deductions and Programs Read More »
Whether someone travels for work once a year or once a month, figuring out travel expense tax write-offs might seem confusing. The IRS has information to help all business travelers properly claim these valuable deductions.
Understanding Business Travel Deductions Read More »
The EITC helps workers who earned $59,187 or less when they file their tax returns. Unfortunately, many people risk missing out on the credit because they don’t know they’re eligible — especially people who had a major life change and may qualify for the first time this year. Other workers at risk for overlooking the
EITC is a Major Tax Benefit Read More »
Taxpayers with dependents who don’t qualify for the Child Tax Credit may be able to claim the Credit for Other Dependents. They can claim this credit in addition to the Child and Dependent Care Credit and the Earned Income Credit. Here’s more information to help taxpayers determine whether they’re eligible to claim the Credit for
The Credit for Other Dependents Read More »
Making the dream of owning a home a reality is a big step for many people. First-time homeowners should make themselves familiar with authorized deductions, programs that can assist with home ownership and the use of housing allowances that can be beneficial.
Know What’s Deductible After Buying A First Home Read More »
Teachers go above and beyond for their students, often buying classroom supplies needed to make learning successful.
Teachers: Classroom Supplies May Be Tax Deductible Read More »
Taxpayers have two options when completing a tax return, take the standard deduction or itemize their deductions.
The Difference Between Standard and Itemized Deductions Read More »
Businesses that make structural adaptations or other accommodations for employees or customers with disabilities may be eligible for tax credits and deductions.
Tax Benefits of Making a Business Accessible Read More »
Here’s How Businesses Can Deduct Startup Costs From Their Federal Taxes When starting a business, owners should treat all eligible costs incurred before beginning to operate the business as capital expenditures that are part of their basis in the business.
Starting a Business? Tax Tips Read More »
The tax law allows small businesses to deduct expenses that help them bring in new customers and keep existing ones.
Advertising and Marketing Costs May Be Tax Deductible Read More »