What Is Depreciation?
When operating any business, it always takes money to make money. This money that is being spent is your expenses and can actually be deducted on a taxpayer’s tax return. There are many different expenses that can be deducted such as cost of goods, sales commission expenses, rent, salaries, or advertising expense. These are all […]
Read MoreHow to Get the Child Tax Credit Early
There have been many different programs made available by the government to help people get through these tough times. With the Covid-19 pandemic, there has been a record number of people on unemployment, and many small businesses and self-employed people had a serious loss of income. The government has provided benefits in the form of […]
Read MoreWhich Education Expenses Are Tax Deductible?
For many Americans, their years spent in college are a time when every little extra dollar counts. Fortunately, the government sees this, but they also value higher education so much that there are many different exclusions of income, tax deductions, and tax credits that can be utilized that are associated with different aspects of cost […]
Read MoreEarned Income Tax Credit: What It Is and How to Claim It
In tough times the hardest hit is always the low-income earners in our society. This past year has been one of the toughest times this nation has ever seen. It is important at this time to know all the tax credits available when filing your return to either reduce your tax liability or strengthen your […]
Read MoreHow Solar Tax Credit Works
With the science showing indications that there is a necessity to change the way energy is provided, many people are making the change towards renewable energy. Renewable energy is useful energy that is collected from renewable resources, which are naturally replenished on a human timescale, including carbon-neutral sources like sunlight, wind, rain, tides, waves, and […]
Read MoreA Guide to Tax Credit for First-Time Homebuyers
During President Joe Biden’s campaign, he had made promises about bringing back incentives and credits to help first-time homebuyers. At a time when interest rates are at an all-time low, there may be some help coming through Congress for those wanting to buy their first home. Rep Earl Blumenauer and Rep Jimmy Pancetta announced sponsorship […]
Read MoreChild Tax Credit: How It’s Beneficial and Who Benefits from It
With the current economic situation, there have been many different programs added and changes made to existing benefits to help provide for families. One major change was to the Child Tax Credit. With the most recent $1.9 million American Rescue Plan presented by President Joe Biden, this credit has been temporarily increased for the 2021 […]
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