Can I Deduct Expenses Related To My Vehicle?

Can I Deduct Expenses Related To My Vehicle?

It’s tax season! You will want to file all of the deductions allowed. Business use of vehicles is a great way to add a deduction.  You can determine the amount of your deductible car expense by using one of two methods: the standard mileage rate method or the actual...
Do I Have a Qualifying Dependent?

Do I Have a Qualifying Dependent?

Paying taxes is the most dreaded time of the year.  It feels good to pay the government the least amount of money.  When preparing your federal income tax return, you will want to seek every possible deduction to reduce the amount of tax money you may owe.  One way to...
What is the Death Tax?

What is the Death Tax?

Americans are unsure of what is going to occur with death taxes under the new tax plan, but if you may be affected by this plan, it is important to be well informed.  There are two different types of death taxes: estate tax and inheritance tax. The estate tax in the...
What is a Household Employee?

What is a Household Employee?

Household employees need to be reported on your taxes. Many people do not realize what constitutes a household employee. The IRS considers you an employer of a person when you hire the person to work in your home and you have control over how the person performs the...
Can I Take a Charitable Deduction?

Can I Take a Charitable Deduction?

The old saying says, it is always better to give than receive. Since most people enjoy both giving and receiving, donating to charities will allow you to give and receive at the same time. Contributing monetarily or by donating possessions to charities can be...
Money Facts

Money Facts

The Federal Reserve estimates that there is currently around $1 trillion in US Currency currently in circulation.  Making and spending money is a part of our daily lives.  Money, or the lack of, can cause happiness or stress.  Despite money being an integral part of...

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