On the road again for business? Here’s a rundown of costs you can deduct for business travel.
Tag: TCJA
If you run a business from home, you could qualify for home office deductions
Business owners may be able to save tax with home office deductions. If you’re working from home (like lots of people these days), you may qualify. Here’s a rundown of the rules.
Small businesses: Cash in on depreciation tax savers
Before Dec. 31, your business should buy any needed business assets and place them in service. That way, you can take advantage of the Section 179 deduction and bonus depreciation.
Tax Considerations: Claiming a Child After Divorce
Often in divorce, a court order stipulates which parent may claim a child or children on their taxes. This can also be used as a bargaining chip for either party when negotiating an agreement. But, what does the Internal Revenue Service (IRS) say about who can claim a child? While a local court may stipulate[ … ]
Can investors who manage their own portfolios deduct related expenses?
Are you an investor or a trader? While trader status is difficult to achieve, if a taxpayer qualifies, he or she can deduct investment-related expenses.
Back-to-school tax breaks on the books
Back to school in the COVID-19 era may mean remote learning for your college student. But parents may be able to take advantage of one of these tax breaks for their education expenses.
Investing in Arizona’s Opportunity Zones
The opportunity zone fund provision that was included in the 2017 Tax Cuts and Jobs Act has created significant hype in the business community, especially within the real estate industry.
Seniors: Can you deduct Medicare premiums?
If you have medical expenses and you pay Medicare premiums, you know it can be expensive to get the coverage you want. But if you qualify, you can deduct the cost of premiums, along with other medical expenses, on your tax return. Here are the rules.
Can you deduct charitable gifts on your tax return?
You may assume that if you make a charitable contribution to an eligible organization, you’ll receive a tax break for it. That may not be the case anymore. Here’s why.
The “kiddie tax” hurts families more than ever
Years ago, Congress enacted the “kiddie tax” rules to prevent parents and grandparents in high tax brackets from shifting income (especially from investments) to children in lower tax brackets. And while the tax caused some families pain in the past, it has gotten worse today. That’s because the Tax Cuts and Jobs Act (TCJA) made[ … ]
