Startup

Startup Costs Tax Deduction: What New Businesses Can Write Off

A new business can usually deduct up to $5,000 of startup costs and a separate $5,000 of organizational costs in its first year under IRC Sections 195 and 248, then amortize the remainder evenly over 15 years (180 months).
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Adoption

How the Adoption Credit Can Ease Your Path to Parenthood

Are you in the process of or thinking about adopting? The tax code includes an adoption credit which is a significant benefit available to taxpayers who adopt a child, providing financial relief for eligible expenses.
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child

Who Claims the Kids When Parents Divorce?

Divorce or separation doesn't just lead to emotional and familial upheaval; it also introduces complexities in financial matters, particularly when children are involved.
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Tax Credit

Essential Tax Credits Every Parent Should Know About

Parents have special tax situations and benefits. Tax breaks for parenting expenses can result in a lower tax bill and a higher refund. Here are some key things new parents need to know.
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vehicle credit

Clean Vehicle Credit Can Be Transferred to Car Dealer to Offset the Purchase Price

A special election allows a tax credit to be applied to reduce the cost of a vehicle purchased. This makes it easier for taxpayers to make down payments.
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Tax Benefits Available for Disabled Taxpayers

Disabled taxpayers, as well as parents of disabled children, may qualify for several tax credits and other tax benefits. Click to learn more!
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