deduction
If you’re paying back college loans for yourself or your children, you may wonder if you can deduct the interest you pay on the loans. The answer is yes, subject…
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The IRS just released its audit statistics for the 2020 fiscal year and fewer taxpayers had their returns examined as compared with prior years. But even though a small percentage…
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Are you eligible for energy-efficiency tax breaks? The Consolidated Appropriations Act (CAA) extended certain tax breaks for energy-efficient buildings that were set to expire at the end of 2020. So,…
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During the COVID-19 pandemic, many people are working from home. If you’re self-employed and run your business from your home or perform certain functions there, you might be able to…
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2020 was certainly a year that will be remembered decades into the future for a variety of reasons. COVID-19 completely overtook our lives as it directly and indirectly affected millions. …
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The IRS issued its final regulations on the tax treatment of transfers made to charitable entities in return for “consideration.” Among other things, the rules tackle a recent tax strategy…
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You may be able to deduct some of your medical expense, including prescription drugs, on your federal tax return. However, the rules make it hard for many people to qualify.…
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As we approach the end of the year, it’s a good time to think about whether your business needs to buy business equipment and other depreciable property. If so, you…
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The COVID-19 pandemic has had a significant impact on landlords. Many tenants have struggled to meet their financial obligations, often resulting in late or unpaid rent or negotiated lease modifications.…
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Since the passing of the Tax Cuts and Jobs Act at the end of 2017, there has been confusion surrounding what exactly can be deducted as a business expense as…
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