Which employer-provided meals are 100% deductible?
Which employer-provided meals are 100% deductible?
Read More Which employer-provided meals are 100% deductible?With age comes retirement savings catch-up benefits
With age comes retirement savings catch-up benefits
Read More With age comes retirement savings catch-up benefitsResidential Clean Energy Tax Credits popular with taxpayers
The Inflation Reduction Act extended and expanded certain residential and energy-efficient home energy tax credits. According to recently released statistics, these clean energy credits have proven to be popular. Indeed, the IRS reports that taxpayers have claimed more than $6 billion in credits on 2023 tax returns for residential clean energy investments (including solar electricity […]
Read More Residential Clean Energy Tax Credits popular with taxpayersERTC processing resumes
The Employee Retention Tax Credit (ERTC) is back in the news after the IRS announced plans to resume processing 50,000 “low-risk” claims. Last fall, the tax agency announced a moratorium on processing claims submitted after Sept. 14, 2023. A subsequent review during the moratorium allowed the IRS to move into this new stage with more […]
Read More ERTC processing resumesAmerican Retirement and Tax-Preferred Savings Accounts, Tax Year 2018
American Retirement and Tax-Preferred Savings Accounts, Tax Year 2018 https://bit.ly/46WRNUn
Read More American Retirement and Tax-Preferred Savings Accounts, Tax Year 2018School-time is back
Summer is winding down and a new school year is ramping up. Teachers and other educators have been working hard to prepare their classrooms before the new year begins. Qualified educators can deduct up to $300 of unreimbursed expenses on their 2024 tax returns. Married educators who file joint returns can deduct up to $600, […]
Read More School-time is backNo tax for that Olympic Gold medal
With the 2024 Paris Olympics over, most of the winning athletes aren’t worrying about taxes. Thanks to a law passed in 2016, Olympic athletes generally don’t have to pay federal taxes on the value of the medals or the amount of any U.S. Olympic & Paralympic Committee (USOPC) prize money they win. The law exempts […]
Read More No tax for that Olympic Gold medalPlanning your estate? Don’t overlook income taxes
The current estate tax exemption amount ($13.61 million in 2024) has led many people to feel they no longer need to be concerned about federal estate tax. Before 2011, a much smaller exemption resulted in many people with more modest estates attempting to avoid it. But since many estates won’t currently be subject to estate […]
Read More Planning your estate? Don’t overlook income taxesEVs without tax credits?
Would Americans buy electric vehicles (EVs) even if EV tax credits weren’t available to offset the cost? That’s the question the U.S. Senate Budget Committee recently considered. Although demand for EVs is growing, U.S. automakers lag behind Chinese manufacturers, which receive subsidies from their government. Some witnesses testifying before the committee stressed the need for […]
Read More EVs without tax credits?Privacy is in the IRS taxpayer Bill of Rights
The IRS is reminding Americans that the right to privacy is included in its Taxpayer Bill of Rights. This means that any investigation will be “no more intrusive than necessary.” For example, the IRS states on its website that if it doesn’t suspect you’re hiding income, it generally won’t ask questions about your spending and […]
Read More Privacy is in the IRS taxpayer Bill of Rights
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