Understanding the Mortgage Interest Deduction
The mortgage interest deduction allows homeowners to reduce their taxable income by the amount of interest paid on a qualified… Read more
Tax Law Changes
Why You Might Get a Form 1099-K and What it Means for Your Taxes
The American Rescue Plan Act of 2021 changed the rules around the IRS Form 1099-K — a change that is likely to have the biggest… Read more
The 2021 Recovery Rebate Credit
To help offset the financial impact of the COVID-19 pandemic, the U.S. government delivered three separate Economic… Read more
All About The Child and Dependent Care Credit
For many working parents, paying for childcare is simply a fact of life. But a portion of those expenses could actually qualify… Read more
Everything You Need to Know About the Child Tax Credit
The American Rescue Plan expanded the Child Tax Credit (CTC) as well as changed some of the existing… Read more
What is Form 1099-NEC?
IRS Form 1099-NEC is the tax form used to report to report non-employee compensation for tax year 2020 and beyond. Before… Read more
Did Tax Reform Change the Deductions for Your Home Office?
The Tax Cuts and Jobs Act (TCJA) of 2017 eliminated the miscellaneous deduction for home office expenses for tax years… Read more
Need-to-Know Tax Reform
The Tax Cuts and Jobs Act took effect in 2018. Some of the changes outlined in the act are permanent, while others will expire… Read more
Getting Ahead on Your 2021 Federal Income Tax Return
Americans are continuing to recover from the financial impact of the pandemic. The government has extended certain forms… Read more
Taxes 101: Understanding Capital Gains and Losses
What are capital gains and losses?
A “capital asset” describes everything you own for personal use (not business)… Read more