Depreciation is negative. It is like something losing value. In the tax world, however, depreciation can translate to considerable tax savings. Depreciation means deducting the...
One of the more intricate provisions of the Tax Cuts and Jobs Act (TCJA) is the new limitation of business interest expenses. At first glance, this limitation seems simple, but the...
Business owners have specific rules and guidelines associated with filing their taxes. Running a daycare can be expensive, and the IRS offers incentives for the expenses incurred....
A student's credit card helps students pay for college needs of students without income. It is also a good idea for a student whose credit score is not enough for a regular credit...
If you want to enjoy deductions on federal tax bills, mortgage point deduction is a terrific way to claim it. At times, it is sometimes called discount points or origination points;...
A tax identification number, also known as TIN, is a distinct nine-digit number directed at individuals, businesses, or others for the sole purpose of taxes and other IRS issues. The...
Posted by Taxes Made EZ Inc on 09/15/2020
Many taxpayers do not like taking the home office deduction because they fear they might raise some eyebrow from the IRS. Sadly, this is true, especially if you take excessively large...
It is glaring that the lesser you pay, the longer you remain in debt. Besides, bear in mind that the interest of the debt keeps growing, and your credit score also takes a blow. If...
Taxpayers use form 3903 to deduct moving expenses involved in a new job. This deduction, however, is no longer applicable to all taxpayers. A couple of years ago, Uncle Sam came up...