A daycare is a licensed business that can enjoy tax deductions. Like other businesses, a tax deduction is a way to bring down your entire tax liability. What is a Business Deduction?Any...
The presence of business equipment and supplies gotten for tax purposes might make things a little complicated when it comes to filing a business tax return. These two business purchases...
Posted by The TaxAdvocate Group, LLC on 03/31/2021
The advantages of being a self-employed or independent contractor are numerous. You have the freedom and flexibility to do your job, and it's also a great way to start your own...
A reverse mortgage is a means of generating income when you employ the equity in your home. This loan provides an excellent way for seniors to get money if finances are not working...
For everyone with real estate that they offer for rent, there is the potential for tax deductions besides the regular income it guarantees. However, the first step is to ascertain...
There are several ways to reduce the tax burden. However, the two most popular are probably tax credits and tax deductions. While they may look the same, they are two very different...
The 2017 TCJA amended many rules relating to mortgage deductions and refinancing. Understanding the new tax laws can help you reduce your tax burden after refinancing. We'll discuss...
If you paid for college in the past year, you could claim the American Opportunity Credit or the Lifelong Learning Credit, or you can deduct tuition and fees. The American Opportunity...
In the previous years, people who paid for college qualify for the lifetime learning Credit, American Opportunity Credit, or the tuition deduction. The most valuable of these is the...