Mar 19, 2020 | Blog, Individual Taxes, Small Business Taxes, Tax Law, Taxes
If you’re self-employed and work out of an office in your home, you may be entitled to home office deductions. However, you must satisfy strict rules. If you qualify, you can deduct the “direct expenses” of the home office. This includes the costs of painting or...
Mar 4, 2020 | Blog, Individual Taxes, Life, Our World, Tax Law, Taxes
Married couples often wonder whether they should file joint or separate tax returns. The answer depends on your individual tax situation. It generally depends on which filing status results in the lowest tax. But keep in mind that, if you and your spouse file a joint...
Jan 21, 2020 | Blog, Individual Taxes, Non-Profit, Small Business Taxes, Tax Law, Taxes
While you were celebrating the holidays, you may not have noticed that Congress passed a law with a grab bag of provisions that provide tax relief to businesses and employers. The “Further Consolidated Appropriations Act, 2020” was signed into law on December 20,...
Jan 9, 2020 | Blog, Individual Taxes, Tax Law, Wealth
If you save for retirement with an IRA or other plan, you’ll be interested to know that Congress recently passed a law that makes significant modifications to these accounts. The SECURE Act, which was signed into law on December 20, 2019, made these four changes....
Jun 7, 2019 | Blog, Community, Individual Taxes, Life, Small Business Taxes, Taxes
If you’re a business owner and you hire your children (or grandchildren) this summer, you can obtain tax breaks and other nontax benefits. The kids can gain on-the-job experience, save for college and learn how to manage money. And you may be able to: Shift your...
Apr 29, 2019 | Blog, Individual Taxes, Life, Our World, Tax Law, Taxes
Unforeseen disasters happen all the time and they may cause damage to your home or personal property. Before the Tax Cuts and Jobs Act, eligible casualty loss victims could claim a deduction on their tax returns. But there are new restrictions that make these...
