The medical expense deduction is large enough to cover pregnancy tests, braille books, and smoking cessation programs. However, it doesn't cover everything you pay to stay healthy....
While the separate filing of tax is a good idea and comes with its advantages, filing jointly brings about significant tax breaks in addition to being a simple method. We compiled...
With the next tax season around the corner, you might be wondering if you've paid enough tax this year. Don't worry, we have put together a list of cash flows you can achieve...
Amid all the cautionary advice to prevent students from borrowing too much money to pay for their university education, one bit of good news may go unnoticed: interest paid on student...
Last April 30, 2020, the IRS Notice 2020-32 was issued, and according to it, there should be no deductions for qualifying business loans that are under the Paycheck Protection Program...
As the United States seeks to prevent the spread of COVID-19, companies have made difficult decisions to stay afloat and maintain a healthy work environment for employees. Today, millions...
Posted by Don Bell Law on 06/22/2020
The amount paid within the year for medical expenses involving health insurance premiums tender’s generous potential deductions and cuts during the tax period.Obtaining specific...
The IRS has announced the 2020 standard mileage rates for commercial, medical, and other users of a car and the 2020 vehicle values that limit the application of specific rules to...
Posted by YourIRSTaxAdvocate.com on 02/15/2020
In Dec 2019, the IRS announced that the standard mileage rate that will be used for deducting operating costs for automobiles would be 57.5 cents per mile. This is half a cent lesser...
Posted by Flynn Financial Group Inc on 02/14/2020