The TCJA eliminated several itemized deductions from 2018 through to 2025. However, the investment interest deduction was not affected. This means that single taxpayers can claim their...
One of the things that occupies most of a businessman’s time when it is time to file taxes is how much legitimate tax deductions they can make. Next to saving you some extra...
Pet Moving Expenses: In some cases, moving expenses for your pet may be deductible if you're relocating for work. This includes transportation, lodging, and even pet quarantine...
Posted by True Tax Service on 09/29/2023
Expenses incurred due to the legal costs of running a profitable business that yields an available income is usually listed as a tax-deductible expense. It's only when the legal...
In the course of a business, there are times you need to face legal proceedings. Expenses relating to such proceedings, which helps produce income that can be assessed, can generally...
Posted by Flynn Financial Group Inc on 06/24/2021
It is a sad reality for many people that they will have to let go a particular percentage of their income to Uncle Sam. While there is nothing much we can do about that, the right...
Uncle Sam gives taxpayers the allowance to reduce their tax bill with a credit for adoption expenses that qualifies provided one meets some qualification requirements. Form 8839...
The adoption credit is a nonrefundable tax credit, which means that the tax credit amount is limited to taxes due on your 2020 income tax return. Any additional credit value can be...
It is not a good idea to turn up empty-handed if you have a tax appointment. You need some records as proof as it will save you time and effort.New clients need to have copies of the...
Posted by Karen Munoz, EA on 12/20/2020