If you're like most business owners who want to close the year and prepare taxes this month, there are several holiday expenses that you can deduct that can save you thousands...
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....
Starting a business can be an exciting new adventure for those with an idea who wish to be self-employed. There are several things to consider, however, when you are opening...
Medical expenses can be deducted from your federal tax return as much as they exceed 10% of your annual gross income. Most people are aware of the common medical expenses you...
The Internal Revenue Service recently published new, higher contribution limits for health savings accounts for 2021. An individual is allowed to contribute $ 3,600, while it is $...
Posted by Carmen Garcia on 10/15/2020
Before leaving the United States, all foreigners (except those listed below) must obtain a "Certificate of Compliance" from the United States Internal Revenue Service. This...
Will you pay taxes on the sale of your home? Probably not, unless you have an income over $ 250,000 or over $ 500,000 for couples. But before we continue, let's take a look at...
Article Highlights:Keeping home improvement records Home gain exclusion amounts Records may be required to avoid taxIndividuals who meet the 2-out-of-5-year use and ownership...
Posted by Ace Plus Tax Resolution on 08/04/2020
The federal government estimates that approximately 60% of people use paid tax preparers to complete and file their tax returns. If you fall into this category, you have nothing to...
Posted by Tim Thompson CPA PLLC on 06/15/2020