Business Valuator, Forensic/Litigation Support Accountant, and Accountant Consultants
Business Valuator, Forensic/Litigation Support Accountant, and Accountant Consultants

Blog categorized as Individual

Working in the gig economy results in tax obligations
The pandemic has caused some people to turn to “gig” work to make up for lost income. Here are the tax consequences of taking on these jobs.
01.06.21 10:34 AM - Comment(s)
New law tax break may make child care less expensive
Child care is expensive. The newly enhanced child and dependent care credit may help for 2021.
26.04.21 10:45 AM - Comment(s)
Who qualifies for "head of household" tax filing status?
If you qualify to file as a “head of household,” you may pay less tax than if you file your tax return as a “single” individual.
08.04.21 11:17 AM - Comment(s)
2021 individual taxes: Answers to your questions about limits
How much can you contribute to an IRA for 2021? How much is the standard deduction? Here are some Q&As about these and other tax-related amounts for 2021.
24.02.21 10:51 AM - Comment(s)
The power of the tax credit for buying an electric vehicle
Thinking about buying a new electric vehicle? While you’re considering factors like acceleration and the range of the battery before recharging, check out the federal tax break that may be available.
08.02.21 10:28 AM - Comment(s)
One reason to file your 2020 tax return early
Filing your tax return early will get you any refund early and may protect you from tax identity theft. Here’s why.
01.02.21 10:09 AM - Comment(s)
Taking distributions from a traditional IRA
It may seem easier to put money into a traditional IRA than it is to take money out. Here are some of the ins and outs of the IRA distribution rules.
23.11.20 11:49 AM - Comment(s)
Can investors who manage their own portfolios deduct related expenses?
Are you an investor or a trader? While trader status is difficult to achieve, if a taxpayer qualifies, he or she can deduct investment-related expenses.
19.10.20 01:11 PM - Comment(s)
On-time financial reporting is key in times of crisis
Who cares if your financial statements are late? Lenders and investors are looking for reassurance that you’re doing OK in today’s unprecedented conditions. Procrastination may cause them to presume the worst.
21.09.20 10:24 AM - Comment(s)
Homebuyers: Can you deduct seller-paid points?
In most cases, points a buyer pays in a home sale are a tax deductible interest expense. But what about seller-paid points?
08.09.20 09:35 AM - Comment(s)