by Admin | May 5, 2022 | Business Taxes, Tax Planning
If you are a small business owner and use part of your home for business, you may be able to take the so-called office-in-home tax deduction. This deduction reduces both income and self-employment taxes. While the term “home office” is used to describe when a taxpayer...
by Admin | Apr 28, 2022 | Business Taxes, Individual Taxes, Tax Planning
If you are considering purchasing an electric vehicle and expect to receive a federal tax credit along with the purchase, you better do your homework first. There is a phaseout that is based on a manufacturer’s sales of electric vehicles that impacts the credit...
by Admin | Apr 21, 2022 | Business Taxes, Individual Taxes, Tax Planning
Frequent questions that arise are: Are amounts received from settlement of lawsuits and other legal remedies taxable? Are the legal fees paid in connection with these payments tax deductible? The tax code specifies that all income is taxable from whatever source...
by Admin | Apr 19, 2022 | Business Taxes, Tax Planning
According to one recent study, start-ups created over two million jobs in the United States in 2015 alone. In fact, by 2018, there were 30.2 million such organizations operating in the country — making up a significant part of the economy. But having an idea for a...
by Admin | Apr 14, 2022 | Business Taxes, Tax Planning
According to one recent study, only about two-thirds of all businesses that open today will survive two years in operation. Roughly half of them will last approximately five years. When you get to 10 years out, that number drops to one-third, according to the Bureau...
by Admin | Mar 29, 2022 | Business Taxes, Individual Taxes
Special tax benefits are available for those providing daycare services for children and the parents who pay for those services. This article looks at the various tax deductions daycare providers may use and the childcare tax credit that the parents may claim. DAYCARE...
