Owe Taxes and Can’t Pay by the Due Date?
If you are unable to pay the tax you owe, it is generally in your best interest to make other arrangements to obtain the funds for paying your taxes. We explore a few options to consider in our Tax Tip.
Charitable Giving in 2021
Tax Consultant Jessie Thomas, CPA, provides some considerations for donating to charitable causes in 2021, including deductions if you are unable to itemize, deduction limits on property, and the benefit of a donor-advised fund.
Can I Write Off My Business Start-Up Expenses?
New business owners, especially those operating small businesses, may be helped by a tax provision allowing them to deduct up to $5,000 of the start-up expenses and $5,000 of organizational costs in the first year of the business’s operation.
IRS to Automatically Adjust Prior Filed 2020 Returns with Unemployment Income
If you or a dependent have already filed your federal return with unemployment income, the IRS will automatically adjust your return to account for the American Rescue Plan’s $10,200 exclusion.
More Money, More Taxes
The “Money Talks” Experts provide insight into the current tax season and tips for those who owe more than expected this year.
Working from Home? Is there a Tax Deduction?
It’s been a year, and we’re still working from home! Thanks coronavirus. Can I qualify for a special tax deduction for using my home as a workplace?
Don’t Miss Out on Tax Credits
Tax credits are a tax benefit that offsets your actual tax liability, as opposed to a tax deduction, which reduces your income. The following is a summary of some of the tax credits available to individual taxpayers:
5 Tips for Operating a Successful Gaming Business
If your teens or grandchildren talk about becoming a famous gamer on YouTube, you may think their dreams of playing video games is ridiculous. However, their passion for playing can become a real business.
6 Tax-Filing Statuses—Understanding the Difference
Single and MFJ are just the tip of the iceberg when it comes to determining the proper and most beneficial filing status.
7 Personal Finance Tips for Freelancers and Gig Workers
We offer 7 personal finance tips that can benefit every person working as part of the freelance and gig economy.