by Accent452023 | Oct 12, 2018 | Taxes
It is quite common for teachers to spend their own money on classroom supplies – so common, in fact, that a few years back, Congress created a special deduction that allowed teachers to deduct up to $250 above-the-line for classroom supplies. “Above-the-line” means...
by Accent452023 | Oct 9, 2018 | Business, Taxes
If you are a business owner who is accustomed to treating clients to sporting events, golf getaways, concerts and the like, you were no doubt saddened by the part of the tax reform that passed last December that did away with the business-related deductions for...
by Accent452023 | Sep 20, 2018 | Business, Tax Reform
Article Highlights: 20% Flow-Through Deduction Qualified Trade or Business Specified Service Trade or Business Deduction Table Listing of Service Businesses As part of its recent tax reform, Congress included a new 20% deduction of pass-through income for trades or...
by Accent452023 | Sep 13, 2018 | Business, Medical, Tax Central, Tax Planning, Taxes
Article Highlights: Increased Standard Deduction Tax-Exempt Income Impairment-Related Work Expenses Financially Disabled Earned Income Tax Credit Child or Dependent Care Credit Special Medical Deductions Qualified Medicaid Waiver Payments ABLE Accounts Taxpayers with...
by Accent452023 | Sep 6, 2018 | Tax Central, Tax Planning
Article Highlights: Surrogate Births Legal Arrangements Taxability to Surrogate Mothers Social Security Taxes Business Deductions Deductibility for the New Parents Articles about the taxability and deductibility of surrogacy fees are rare because there are far fewer...
