Tax changes due to recent legislation such as the Tax Cuts and Jobs Act and the CARES Act affect both individual taxpayers and small businesses. In 2020, the IRS issued several guidance documents and final rules and regulations that clarified several tax provisions affecting businesses. Here are five of them: Continue reading
Educators can take advantage of tax deductions for qualified out-of-pocket expenses related to their profession such as classroom supplies, training, and travel. As such, as the new school year begins, teachers, administrators, and aides should remember to keep track of education-related expenses that could help reduce the amount of tax owed next spring. Continue reading
If you’re self-employed and use your car for business, you can deduct certain business-related car expenses. Continue reading
Whether you’re self-employed or an employee, if you use a car for business, you get the benefit of tax deductions. Continue reading
Whether you are self-employed or an employee, if you use a car for business, you get the benefit of tax deductions. There are two choices for claiming deductions: Continue reading
