On January 5, 2021, the Treasury and IRS released a second set of final business interest expense deduction regulations (the 2021 Final Regulations) that provide additional rules to...
The IRS issued depreciation limits for commercial passenger cars placed in service by taxpayers in 2020. The IRS also released annual income inclusion values for these vehicles first...
The trader tax status (TTS) constitutes the treatment of business expenses and offers several significant tax advantages to qualified active traders. The first step is to determine...
Posted by Advanced Accounting & Tax Planning on 04/20/2020
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
Depreciation doesn’t sound appealing to most of us. However, all the tax savings it will give you might be of great benefit for you!You should familiarize yourself on the basics...
Posted by Debi G Hill, CPA on 12/28/2019
As a homeowner, it's imperative to know and understand the taxes you can deduct from your taxes because they will help you reduce your taxable income and reduce your tax burden....
Posted by Flynn Financial Group Inc on 10/29/2019
Trader tax status (TTS) comprises the cost of doing business treatment and opens an arrangement of essential tax benefits for eligible active traders. The initial step is to know if...
Posted by LLOYD J CAZES CPA on 10/23/2019
Refinancing is an option for everyone, but there are some moves which you have to be careful about. It is the question in many people’s mind that should help you refinance or...
Posted by Advantage Tax Service on 06/30/2018
Starting a new business brings lots of excitements and expectations, but you can’t forget about expenditures and obligations. Initial years are crucial for every startup, and...
Posted by Valderas Financial Solutions LLC on 05/18/2018