Bad Debts: What Losses Can You Deduct and When?
Attempts to claim write-offs for bad debt losses have fueled controversies with the IRS for many...
Posts about
Personal Tax (12)
5 Valuable Tax Credits for 2020 Individual Returns
Individuals who are eligible for federal income tax credits can significantly lower their tax...
Important Tax Figures for 2021
The following table provides some important federal tax information for 2021, as compared with...
New Law Includes Favorable Changes for Individuals
The massive COVID-19 relief bill signed by President Trump on December 27, 2020, contains a variety...
The Tax Implications of Closing a Schedule C Business
Unfortunately, many businesses have already been forced to close their doors due to the economic...
Year-End Moves for Charitable Donations
‘Tis almost the season for charitable giving. Besides helping a worthy cause, your donations may...
Home Office Deductions in the COVID-19 Era
Have you been working from home during the COVID-19 crisis? Join the club. Approximately 42% of the...
Small Businesses: Are First-Year Depreciation Write-Offs Right for You?
Under today’s federal income tax rules, your business may be able to claim big first-year...
Spotlight on Individual Tax Matters in the 2020 Election
Election season 2020 is in full swing. Over the next few weeks, both parties will be hard at work,...
Six Key Tax Breaks that Homeowners May Be Able to Claim
The days of classic “tax shelters”—such as cattle breeding or oil drilling deals—are long gone. But...