Tag Archives: taxes
Four Things You Should Know if You Barter
Small businesses sometimes barter to get products or services they need. Bartering is the trading of one product or service for another. Usually there is no exchange of cash. An example of bartering is a plumber doing repair work for … Continue reading
Take Credit for Your Retirement
Saving for your retirement can make you eligible for a tax credit worth up to $2,000. If you contribute to an employer-sponsored retirement plan, such as a 401(k) or to an IRA, you may be eligible for the Saver’s Credit. … Continue reading
Seven Important Tax Facts about Medical and Dental Expenses
If you paid for medical or dental expenses in 2012, you may be able to get a tax deduction for costs not covered by insurance. The IRS wants you to know these seven facts about claiming the medical and dental … Continue reading
And you thought being a parent was a non-paying job?
Your children may help you qualify for valuable tax benefits, such as certain credits and deductions. If you are a parent, here are eight benefits you shouldn’t miss when filing taxes this year. 1. Dependents. In most cases, you can … Continue reading
Halloween candy tax deductible?
The Basics If you purchase and pass out Halloween candy as an individual, you cannot deduct it on your business tax return. Likewise, expenses related to Halloween parties do not qualify for deductions. If you own a business, however, you … Continue reading
Five Important Tips on Gambling Income and Losses
Whether you roll the dice, bet on the ponies, play cards or enjoy slot machines, you should know that as a casual gambler, your gambling winnings are fully taxable and must be reported on your income tax return. You can … Continue reading