Category Archives: All Taxpayers
Tax Tips for the Well-traveled Businessperson
As you probably already know, food and lodging expenses can be deducted when you are away from home for business purposes. This may be particularly beneficial to self-employed individuals who travel extensively. Like everything in the tax law, there are … Continue reading
Keep the Child Care Credit in Mind for Summer
If you are a working parent or look for work this summer, you may need to pay for the care of your child or children. These expenses may qualify for a tax credit that can reduce your federal income taxes. … Continue reading
Convert Unused Property Into a Tax Deduction
When you give away items like clothing, appliances, vehicles, and other goods to a qualified charity, your generosity can add up to a tax write-off if you itemize your deductions. The amount of your deduction is generally the donated property’s … Continue reading
Did You Overlook Something on a Prior Tax Return?
Occasionally, clients will realize that an item of income was overlooked, a deduction was not claimed, or that an amended tax document was received after the tax return was already filed. Regardless of whether the oversight will result in more … Continue reading
Are You Collecting the Needed W-9s?
If you use independent contractors to perform services for your business or rental that is a trade or business, and you pay them $600 or more for the year, you are required to issue them a Form 1099 after the … Continue reading
Tax Facts about Summertime Child Care Expenses
Many parents who work or are looking for work must arrange for care of their children during the school vacation. If you are one of those, and your children requiring care are under 13 years of age, you may qualify … Continue reading
Tips for Taxpayers Who Missed the Tax Deadline
The IRS has some advice for taxpayers who missed the tax filing deadline. File as soon as possible. If you owe federal income tax, you should file and pay as soon as you can to minimize any penalty and interest … Continue reading
Are you confused on making Estimated Tax Payments. Here’s 6 tips!
Some taxpayers may need to make estimated tax payments during the year. The type of income you receive determines whether you must pay estimated taxes. Here are six tips from the IRS about making estimated tax payments. 1. If you do … Continue reading