Get a Jump on Tax Planning
Aug 7, 2024 | Tax Tips
Summer is a good time for some tax planning that could lower your 2024 tax bill. Since the passage of the Tax Cuts and Jobs Act, which increased the standard deduction, fewer people benefit from itemizing deductions. You can use this IRS Interactive Tax Assistant to...How to Deduct Business Travel
Aug 7, 2024 | Tax Tips
Before traveling for business, it’s important to know what’s tax deductible. Through 2025, employees aren’t permitted to deduct unreimbursed business expenses, including travel expenses, but self-employed people may deduct business travel expenses on Schedule C....HSAs Can Be Powerful Retirement Saving Tools
Jul 9, 2024 | Tax Tips
Health Savings Accounts (HSAs) are tax-advantaged savings vehicles for funding health care expenses not covered by insurance. And for those in relatively good health, they also may serve as attractive retirement savings vehicles. To be eligible to contribute, an...Handle Your 401(k) Rollover With Care
Jul 9, 2024 | Tax Tips
Leaving a job? You may want to roll over funds in your former employer’s 401(k) plan to an IRA. But there’s a tax trap for the unwary. If you receive a 401(k) plan check that’s payable to you personally or if you have a distribution put into a personal account...Valuable Tax Credit Available for Energy-Efficient Homes
Jul 9, 2024 | Tax Tips
Under the Inflation Reduction Act, construction contractors who build or rehab energy-efficient homes may be eligible for a federal tax credit of up to $5,000 per project. To claim the credit, builders are required to construct or substantially rehab a qualified home...Tax Due Dates for
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