Blog

IRAs and Retirement Planning

It’s never too early to begin planning for retirement. Individual retirement accounts provide tax incentives for people to make investments that can provide financial security when they retire. These accounts can be with a bank or other financial institution, a life insurance company, mutual fund or stockbroker. A traditional IRA is the most common type […]

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Moratorium on Processing ERC Claims Declared

Due to rising concerns about a flood of improper Employee Retention Credit claims, the IRS has announced an immediate moratorium through at least the end of the year on processing new claims for the pandemic-era relief program in order to protect honest small business owners from scams. The IRS Commissioner ordered the immediate moratorium, to […]

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Reconstructing Financial Records After a Disaster

Natural disasters can strike without warning, and sometimes even the most diligent taxpayers are left without the important personal and financial records they need. People may need documentation for tax purposes, federal or state assistance programs or insurance claims. Here are some steps that can help you reconstruct your important records if you’re confronted with […]

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Educator Expense Deduction in 2023

It’s back to school season, which is also a good time to remind teachers, principals, and other educators about the educator expense deduction which they may be eligible for. If you are an educator, you may be able to deduct up to $300 of out-of-pocket classroom expenses for 2023 when you file your federal income […]

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Tax Deductions for Homeowners

The summer is prime time for buying or selling a house. If you purchased a home this year, here are a few tax deductions and programs that you might be eligible for. Deductible house-related expenses Most people take out a mortgage to buy their home and then make monthly payments to the lender. This mortgage […]

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Tax Tips for Newlyweds

If you’re “tying the knot” this summer, you should review a few tax-related items after the wedding. Big life changes, including a change in marital status, often have tax implications. Here are a few things couples should think about after the wedding. Name and address changes People who change their name after marriage should report […]

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Tax Tips for Parents

As every parent knows, kids are expensive. If you are the parent or caregiver of a child, there are some tax breaks that can help make those expenses a little less painful. First things first… If you are a new parent, there are a few things you will want to do before exploring any tax […]

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Deductions for Business Travelers

Despite the rise of Zoom, Webex, and other video calling software, travel is still an important part of many people’s work life. If you are one of the thousands who travel for work, there may be tax deductions available to help you offset the cost of this travel. What to know about tax deductions for […]

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