In today’s digital age, an increasing number of Americans are working from home. Whether it is for to run a small business or to telecommute for an employer, the home office deduction is used by more taxpayers than ever before. There is some confusion, however, about what qualifies as a home office and which expenses […]
5 Tips for Making the Most of Your Home Office Tax Deduction Read More »
Fall is upon us and the start of a new school year is imminent. And with school comes the added expenses for clothing, supplies; and for college students, tuition, room and board and related expenses. Fortunately, there are some ways in the tax code to save money on expenses for the 2016-2017 school year. Here
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The summer is over, fall is beginning, and it is time to get back into the normal routine. But what if you decided to do something different this fall? While the kids are in school, instead of coming home from work and spending two or three hours watching TV, how about turning those evening hours
4 Reasons to Start a Business in the Information Economy Read More »
For decades, lawmakers have complained about the“marriage penalty”, which refers to the areas within the Internal Revenue Code (IRC) that tend to favor unmarried couples who cohabitate over those who are married. The marriage penalty just became a lot bigger with the IRS’s agreement to allow a full deduction on mortgage interest for unmarried individuals who are co-owners of
IRS Agrees to Allow Unmarried Couples a Full Deduction for Mortgage Interest Read More »
For entrepreneurs and small business owners, the way you manage your taxes can be the difference between finishing the year in the red or in the black. This is why it is important to evaluate your tax situation at least a few times a year, so you can ensure you are still on track toward meeting your objectives. As
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Special tax benefits apply to members of the U. S. Armed Forces. For example, some types of pay are not taxable, and special rules may apply to some tax deductions, credits, and deadlines. Here are ten of those benefits: 1. Deadline Extensions. Some members of the military, such as those who serve in a combat
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Are you planning to pay for college in 2016? If so, money you paid for higher education can mean tax savings on your tax return when you file next year. If you, your spouse or your dependent took post-high school coursework last year, you may be able to take advantage of education credits that can
Education Tax Credit Helps You Pay for College Read More »
If you give money or goods to a charity in 2016, you may be able to claim a deduction on your federal tax return. Here are six important facts you should know about charitable donations. 1. Qualified Charities. You must donate to a qualified charity. Gifts to individuals, political organizations or candidates are not deductible.
Six Facts About Charitable Donations Read More »
Some natural disasters are more common in the summer, but major events such as hurricanes, tornadoes and fires can strike at any time. It’s always a good idea to plan for what to do in case of a disaster. Here are some basic steps you can take right now to prepare: 1. Backup Records Electronically.
Five Tips for Safeguarding Your Records Read More »
What if there were a tool that helped you create crystal-clear plans, provided you with continual feedback about how well your plan was working, and that told you exactly what’s working and what isn’t? Well, there is such a tool. It’s called the Budget vs. Actual Report and it’s exactly what you need to be
Best Financial Tool for Business Owners Read More »
