Can You Deduct Child Care Expenses?
January 3, 2021
For parents who are responsible for childcare, handling the cost of bringing up children can be tough. That’s why the IRS allows you to deduct certain childcare expenses on …
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Are Home Improvements a Tax Deduction?
December 31, 2020
Are Home Improvements Tax Deductible? Whenever you make a home improvement, such as replacing the windows or installing a brand-new HVAC system, you may be able to use those …
What is the IRS Dependent Exemption?
December 17, 2020
The IRS dependent exemption is aimed at taxpayers who need to pay for dependents. Most commonly, parents would apply for this because they have children. However, it also applies …
What Are Medical Expense Tax Deductions?
November 26, 2020
The IRS allows you to deduct a certain amount of your medical expenses from your taxes. However, this can be a complex issue if you’ve never found yourself in …
Self Employed Tax Deduction Tips
August 23, 2020
Being able to work for yourself is exciting. It allows you to do something you love and achieve a work/life balance that cannot be achieved when you are working …
IRS Cracks Down on Exaggerated Tax Deductions
August 23, 2020
Padding tax deductions has always been a symbol of the financial grey area. But the IRS is now cracking down on people who’re either exaggerating their deductions or plain …
What is the IRS Mileage Rate for 2020?
August 19, 2020
For anyone expecting to claim mileage on their taxes in 2021, it’s an exciting time. The IRS has released the new mileage rate. Let’s discuss what you need to …
Can You Claim Home Repair Tax Deductions?
August 19, 2020
When people think of home repairs, they don’t generally think of doing them as being a way to lower their tax liability. However, there are some ways that home …