Author: taxsecretsblog

Article Highlights: Charitable Itemized Deductions Bunching Deductions Qualified Charitable Distributions Donor-Advised Funds Volunteer Expenses Misconceptions Household Goods and Used Clothing Documenting Charitable Contributions Your charitable contributions include a wide variety of tax-saving opportunities, some you may not be aware of and some that are frequently

Article Highlights Required Minimum Distributions Qualified Charitable Distribution QCD Benefits Fly In the Ointment Tax law requires individuals who have reached age 72 to begin taking minimum distributions from their traditional IRA accounts. These are referred to as a required minimum distribution or RMD. The

Article Highlights: Non-Refundable Tax Credit Other Incentives Qualifications Financing Who Gets the Credit Credit Timing Newly Constructed Homes Batteries If you have been considering installing a solar electric system on your home and taking advantage of the lucrative federal tax credit, time is running out.

Article Highlights: Home Sale Exclusion 2 out of 5 Rule Business Use of the Home Gain or Loss from a Sale Previous Use as a Rental Form 1099-S IRS Matching Records If you sold your home this year or are thinking about selling it, there

Article Highlights: 1099-K Reporting Threshold IRS Is After Unreported Income Venmo, e-Bay, Etsy, and Others Deductible Expenses Self-employment tax Self-employment Retirement Self-Employed Health Insurance Deduction  Hobby vs. Business Effective for 2022 and later years, Congress reduced the threshold for the Form 1099-K filing requirement from

July 2022 Individual Due Dates July 1 - Time for a Mid-Year Tax Check-Up Time to review your 2022 year-to-date income and expenses to ensure estimated tax payments and withholding are adequate to avoid underpayment penalties. July 11 - Report Tips to Employer If you

Article Highlights: What is the Work Opportunity Tax Credit? Maximum Credit Who Can Claim the Credit? Qualified Employees Pre-screening and Certification Tax-exempt Employers The Work Opportunity Tax Credit (WOTC) is a general business credit that is jointly administered by the Internal Revenue Service (IRS) and

 Article Highlights: Tax Advantaged Repayment of Student Loans Employer Provided Educational Assistance Qualified Tuition Programs The Deductibility of Student Loan Interest Student Loans Forgiven in 2021 through 2025 Avoiding Student Loan Debt Section 529 Plans Coverdell Education Savings Account Education Tax Credits The American Opportunity

From the moment that Steve Jobs first walked across a stage in California and introduced the world to the iPhone in 2007, the ways in which we communicate with one another had changed forever. It's just that few of us could have predicted how striking

Any seasoned entrepreneur will tell you that coming up with an idea for a startup is ultimately the easy part of this process. Figuring out how you're going to get the funds necessary to make that vision a reality? That part is a bit trickier.