Depreciation and Your Small Business
When you work for yourself, almost all your business-related expenses can be deducted on your tax return. But instead of… READ MORE
Tax Credits & Deductions
Understanding the Mortgage Interest Deduction
This post has been updated for tax year 2018 (returns filed in 2019).
The Mortgage Interest Deduction allows homeowners… READ MORE
Is Volunteering Tax Deductible?
Are you like many Americans who dedicate time to giving back to the community? Have you traveled to disaster areas to help… READ MORE
8 Ways Children Can Reduce Tax Liability
Part of having a child is accepting the financial commitment to support them. Think about diapers, childcare, … READ MORE
Do Renters Qualify for a Tax Deduction?
The truth is there is no federal tax deduction for monthly rent – but depending on where you live, you might be able… READ MORE
Can You Claim the Earned Income Tax Credit?
The Earned Income Tax Credit (EITC) is a tax credit for low to moderate-income families. If you meet the specific income… READ MORE
What Are Tax Credits and Tax Deductions?
Tax credits and tax deductions are two different types of tax breaks. Both can lower your tax bill, but they work in different… READ MORE
5 Tax Breaks for Single Parents Going Back to School
Life throws many challenges at you. If you are raising children while trying to earn a degree, there’s no denying your… READ MORE
Reduce Your Taxable Income to Increase Your Refund
The Tax Cuts and Jobs Act has impacted several important itemized deductions going into tax year 2018. If you’ve itemized… READ MORE
Can I Get a Natural Disaster Tax Deduction?
It’s hard to get your assets in order when you’re worried about the impending red blip on the radar. But a few… READ MORE