Deducting the Costs of Modifications for Senior-Proofing a Home

Deducting the Costs of Modifications for Senior-Proofing a Home

If you are planning to make such home improvements, you may be wondering whether any of the costs will be tax-deductible.
Pension Startup Credit for Employers Substantially Increased

Pension Startup Credit for Employers Substantially Increased

Are you considering establishing a qualified pension plan for your business? You may be entitled to a pension startup credit for employers.
Filing Status Changes May Bring Unwelcome Surprises

Filing Status Changes May Bring Unwelcome Surprises

Filing status changes because of a life event can have major ramifications. Marriage, divorce, separation or death of a spouse can change your tax status.
Higher Medical Deductions Allowed by Congress for 2019 and 2020

Higher Medical Deductions Allowed by Congress for 2019 and 2020

Medical deductions are an itemized deduction. However, they must exceed a percentage of a taxpayer’s adjusted gross income (AGI), which can change.
How Can I Prove Financial Hardship to the IRS If I Can't Pay My Taxes?

How Can I Prove Financial Hardship to the IRS If I Can't Pay My Taxes?

It’s that time of year again, and you may sincerely wonder how you will pay your tax bill, explore payment or alternative plans with the IRS.
Tax Return Question: Are You Required to File a Tax Return?

Tax Return Question: Are You Required to File a Tax Return?

There are times when individuals are REQUIRED to file a tax return. There are also times when it is to the individuals’ BENEFIT to file a return.
How Will Tax-limit Increases Affect You and Your Business in 2020?

How Will Tax-limit Increases Affect You and Your Business in 2020?

An array of tax-limit increases that affect businesses are annually indexed for inflation. Here are some of the tax-limit increases for 2020.
Cents-per-mile Rate for Business Miles Decreases Slightly for 2020

Cents-per-mile Rate for Business Miles Decreases Slightly for 2020

The cents-per-mile rate has decreased for 2020. How will this affect the way you calculate your vehicle-related deductions?