Author: taxsecretsblog

Article Highlights: Itemized Versus Standard Deductions Medical Expenses Taxes Charitable Contributions If your tax deductions normally fall short of itemizing your deductions or even if you are able to itemize, but only marginally, you may benefit from using the “bunching” strategy. The tax code allows

The U.S. Justice Department has announced the indictment and arrest of Ehrenfriede Kauapirura, a Brooklyn, New York dietician. She is charged with multiple counts of filing false tax returns, obstructing the Internal Revenue Service, and willful failure to file a tax return.  Charges Include Fraudulent

Perhaps you’re a business owner who is ready to downsize, or a long-time employee ready to set off on your own and leverage your knowledge and experience to start your own small business. If you have a particular area of expertise then you’re probably in

Article Highlights: Discarding old tax records Statute of limitations Basis substantiation Now that your taxes are complete and filed for the year, you are probably wondering what old tax records can be discarded. If you are like most taxpayers, you have records from years ago

According to one recent study, about 27% of people in the United States between the ages of 55 and 67 years old have less than $10,000 saved for retirement. If you needed just one statistic to outline how important it is to plan ahead when

If you had to make a list of some of the most profoundly successful entrepreneurs to ever live, there is at least one name that would absolutely be on it: Steve Jobs. Today, people know Steven Paul Jobs as the co-founder of Apple Computer. He

If you had to make a list of some of the biggest issues that plague small business owners on a regular basis, cashflow problems would undoubtedly be right at the top. Cash flow is about more than just the money coming into and going out

According to one recent study conducted by the Small Business Administration, there are approximately 32.5 million organizations that classify as a small business in operation in the United States. Half of all American workers are either employed by a small business or own a small

Article Highlights: Credit History New Law Enhancements Extensions Credit Limits Home Energy Audit Identification Number Requirement Other Credit Issues Going all the way back to 2006, except for 2008, the federal tax code has offered a tax credit for making energy-saving improvements to a taxpayer’s

Article Highlights: Assembly Requirement August 15 Deadline Transition Rule The New Law Income Limit Manufacturer's Suggested Retail Price Limitation New Vehicle Definition Transfer of Credit to the Dealer Credit for Used Vehicles With the recent passage of the Inflation Reduction Act of 2022, the electric