How will revised tax limits affect your 2022 taxes?
January 14, 2022
How much can you contribute to a 401(k) plan for 2022? How much is the standard deduction? How much do you have to earn this year before you can stop paying Social Security on your salary? Here are some answers to these and other tax-related questions for 2022.
Are you eligible for a medical expense tax deduction?
January 13, 2022
One of your new year’s resolutions may be to take better care of your health. But can you deduct your out-of-pocket medical costs on your tax return?
Businesses with employees who receive tips may be eligible for a tax credit
January 12, 2022
Owners of restaurants and bars have had a rough couple of years due to the pandemic. Keep in mind that employers in the food and beverage industry may be eligible for a valuable tax break with the FICA tip credit. Here’s how it works.
Defer tax with a like-kind exchange
January 10, 2022
With real estate prices up in some markets, the “like-kind” exchange strategy may be attractive if you want to sell commercial or investment real estate.
There’s a deduction for student loan interest … but do you qualify for it?
December 22, 2021
College is expensive and you may have taken student loans to pay for it. Can you deduct the interest you pay on these loans? Here are the rules.
Providing a company car? Here’s how taxes are handled
December 15, 2021
Providing a company car to executives at your business is a prized perk. Here are the basic tax rules involved in this fringe benefit.
