Tax Implications of Losing Your Job
Despite the robust job market, some people are still losing their jobs. If you’re laid off or terminated from employment, taxes are probably the last thing on your mind. However, you …
Adopting a child? Bring home a tax break too.
Two tax benefits are available to offset the expenses of adopting a child. In 2023, adoptive parents may be able to claim a credit against their federal tax for up …
Can an individual deduct vehicle expenses?
It’s not just businesses that can deduct vehicle-related expenses on their tax returns. Individuals also may be able to deduct them in certain circumstances, if they have a business-related purpose. …
Bartering with Businesses? What You Need to Know About the Tax Implications
During these times of high inflation, many cash-challenged businesses have bartered for goods and services instead of paying dollars for them. If your company gets involved in such transactions, remember …
Don’t Forget These Three Things After Filing Your Tax Returns
Most people feel a sense of relief after filing their tax returns each year. But even if you’ve successfully filed your 2022 return with the IRS, there may still be …