2023 Tax Planning Itemized Deductions There are two ways you can take deductions on your federal income tax return: you can itemize deductions or use the […]
Standard vs Itemized Deductions There are two ways you can take deductions on your federal income tax return: you can itemize deductions or use the standard […]
Optional Standard Mileage Rates Businesses generally can deduct the entire cost of operating a vehicle for business purposes. Alternatively, they can use the business standard mileage […]
Tax Planning: Qualified Opportunity Zones The Tax Cuts and Jobs Act includes changes for businesses and individuals. One of these is the creation of the opportunity […]
Tax Planning: Basis of Property Acquired Under Code Secs 1031 or 1033 In certain types of transactions there are opportunities for taxpayers to defer gain on […]
Medical expenses can trim taxes. Keeping good records and knowing what to deduct make all the difference. Taxpayers can only claim medical expenses that they paid […]