Tax Benefits for Homeowners What tax deductions, programs and housing allowances are available to you as a homeowner? Let’s explore a few options that the IRS makes available. If you have a mortgage, you may deduct the interest paid,...
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Tax Implications of Crowdfunding Crowdfunding is a method used to raise money through websites by soliciting contributions from numerous people. Contributions may be solicited to fund businesses or projects, for charitable donations or for private gifts. The contributions are...
Disaster and Taxes: Understanding Casualty Loss Marshall, North Carolina, a town of about 800 people, was more or less wiped off the map on Sept. 27, 2024, by Hurricane Helene. Residents said they had never seen the river rise...
Using the Section 179 Deduction Section 179 of the U.S. tax code offers a tax incentive to small and medium-sized businesses by allowing them to take a full deduction on tangible assets in the year items were purchased and...
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Preparing for the 2024 Tax Season
Preparing for the 2024 Tax Season There are many tax uncertainties to consider as we face the end of 2024. Chief among them is whether proposals from the presidential candidates will affect our taxes; new legislation may be enacted...
Important Tax Tips for 2024 The U.S. tax code is complicated and often hard to understand, with many provisions, credits and disallowances. Let’s review a few credits that many people are interested in, as well as how to respond...
Check Your Withholding Are you having the right amount of tax withheld from your paycheck? The IRS’sTax Withholding Estimatorhelps you calculate federal tax withholding, which affects your take-home pay as well as your tax refund or tax due. To...
Intro to Business Deductions To be deductible, a business expense must be both ordinary — common and accepted in your industry — and necessary, helpful and appropriate for your trade or business. Generally, you cannot deduct personal, living or...
Worst of the Worst: Top Personal Tax Errors If you make any mistakes on your tax return, you can end up owing even more money. This means you might miss out on the full refund you claimed. From interest...
Worst of the Worst: Top Business Tax Errors When the IRS looks at your tax forms, the tax agency uses a computer to compare what has been reported to it with what you have reported in terms of income....