by Lori Bowden | Sep 5, 2024 | Business, Newsletter, Taxes
It’s a challenging time for many businesses. Therefore, any help you can get, such as tax incentives and sales tax exemptions, can make a big difference. Unfortunately, these benefits often go unclaimed because businesses don’t know about them or erroneously think...
by Lori Bowden | Sep 2, 2024 | Individuals, Newsletter, Taxes
If you pay premiums for Medicare health insurance, you may be able to combine them with other qualifying expenses and claim them as an itemized deduction for medical expenses on your tax return. This includes amounts for “Medigap” insurance and Medicare Advantage...
by Lori Bowden | Sep 1, 2024 | Business, Newsletter, Taxes
The Internal Revenue Service (IRS) has recently announced significant updates to the Employee Retention Credit (ERC) program, which is vital for all businesses that have claimed or are considering claiming the credit. Here’s what you need to know: Lifting of the ERC...
by Lori Bowden | Aug 4, 2024 | Business, Newsletter, Taxes
Are you in the process of starting a business or contemplating changing your business entity? If so, you’ll need to decide how to organize your company. Should you operate as a C corporation or as a pass-through entity such as a partnership, limited liability company...
by Lori Bowden | Aug 3, 2024 | Newsletter, Taxes
Teachers who are getting ready for a new school year often pay for some of their classroom supplies out-of-pocket. They may be able to get some of that cost back by taking advantage of a special tax break for educators. History of the Deduction Before 2018, employees...
by Lori Bowden | Jul 2, 2024 | Accounting, Newsletter, Taxes
As rents continue to rise in many areas, you may decide to help your financially challenged family members by renting a property to them at a discount. But this can lead to the loss of significant tax deductions. Here’s a look at the tax treatment that applies...
