The passing of the Tax Cuts and Jobs Act at the end of 2017 has had widespread impacts on taxpayers. One effect of this tax overhaul was the creation of a cap on state and local tax (SALT) deductions. The change limits the deduction taxpayers can take on state and...
Filing your tax return is an annual chore that most of us would rather not think about. All of the complicated paperwork can quickly make for a headache. And if you’re expecting your tax return filing to result in a lighter wallet this year, it’s...
If you served in the U.S. military, your taxes will likely be more complicated than for the average civilian. Veterans are entitled to a multitude of tax benefits—and it’s easy to let some key tax breaks slip through the cracks.In today’s post, we...
In the digital age, Americans are increasingly seeking remote jobs—giving them the flexibility to work from anywhere in the world, all from their own laptop. It’s important to understand that if you spend your days writing corporate communications on a...
Preparing your tax return can be a confusing process. In addition, many tax payers are unsure of what to do with their tax returns and supporting documentation once it’s been submitted. Are you allowed to throw these records away? Are you expected to keep them...
In this day and age, employees of virtually any company go through extensive information security training. You’ve become adept at recognizing a scam. You know to never give your password to anyone. Before opening any email, you always make sure it’s from...
You have an employer who sends you a W-2 form each year. However, you also work remotely. You know you don’t qualify as self-employed, but can you still deduct your home office on your taxes? What’s the rule for employees who work from home?The answer is:...
Most people who are eligible for the home office deduction are self-employed. However, not all self-employed people may claim this deduction.As we discussed in a previous post, falsely claiming the home office deduction can increase your likelihood of being audited by...
You did it. You finished up your long, dedicated career, and it’s finally time to take a well-deserved break. You worked hard throughout your adult life, and you’ve comprehensively planned for your financial future. It’s smooth sailing from here on...
Common law marriage is a non-traditional type of marital union that does not involve a ceremony, a wedding certificate or an officiant. Under such an arrangement, a couple lives together, acts as husband and wife and holds themselves out to the community as being...
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