The points you paid for when you signed a mortgage to buy your home can help you reduce your federal tax bill. With scores, sometimes referred to as loan origination points or discount...
Posted by Elliot Kravitz, ATP on 09/30/2019
More people are choosing to work from home with the rising influence of computers and information technology in the workplace. Working from home allows you to deduct home office expenses...
Posted by Elliot Kravitz, ATP on 09/30/2019
As you are probably aware, the large proportion of your income is taxable. Whether earned through a salary, hourly wages, tips, commissions, rent from a property that you lease or...
Posted by Elliot Kravitz, ATP on 07/25/2019
Every year does not go as expected, and sometimes it could be a situation where businesses made fewer profits as they did the years before. When the cost of expenses begins to exceed...
Posted by Elliot Kravitz, ATP on 07/25/2019
If you have been relieved of your job, odds are your pay has dropped significantly. That implies your tax status has likely changed too. You may now be eligible for deductions...
Posted by Elliot Kravitz, ATP on 05/29/2019
When it comes to tax treatment, there is a difference between unreimbursed business expenses for partners and S corporation shareholders. Also known as ordinary and necessary expenses,...
Posted by Elliot Kravitz, ATP on 04/17/2019
If you haven’t thought about hiring an Accountant to help prepare your taxes before, you may now have to consider doing it now. It’s important for you to be prepared for...
Posted by Elliot Kravitz, ATP on 04/17/2019
Definition of Taxable Income:• Taxable income is the portion of your total income that is subject to taxation by the government....
Posted by True Tax Service on 10/30/2023
What Is the Standard Deduction?The standard deduction is a fixed dollar amount that reduces your taxable income. It's designed to simplify the tax-filing process and provides a...
Posted by True Tax Service on 10/26/2023
