Unlocking Tax Benefits: Deducting Medicare Premiums for Seniors
If you’re a senior aged 65 and older with basic Medicare insurance, it’s possible that you require additional premiums to reach the desired level of coverage. These premiums can be
If you’re a senior aged 65 and older with basic Medicare insurance, it’s possible that you require additional premiums to reach the desired level of coverage. These premiums can be
Even if your business could claim big first-year depreciation tax deductions for eligible real estate expenditures rather than depreciate them over several years, should you? It’s not quite as simple
By: Josh Brock If you operate a pass-through entity (PTE) in California, are you aware of the upcoming California Pass Through Entity Tax election for 2023? To make the election
In addition to the regular income tax rate of 35% or 37% high-income taxpayers face, they also may have to pay a 3.8% net investment income tax (NIIT). Fortunately, there
By: Patti Callaway The Employee Retention Tax Credit (ERTC) has been a lifeline for organizations struggling due to the COVID-19 pandemic. However, misconceptions and falsehoods surrounding the ERTC have led
By: Patti Callaway The Employee Retention Tax Credit (ERTC) has emerged as a crucial support for recovery start-ups amidst the aftermath of the COVID-19 pandemic. Introduced as part of the
There are many considerations to keep in mind if you and your employees are traveling for business this summer. To claim deductions under tax law, certain requirements must be met
Because of the generous federal estate tax exemption of $12.92 million for 2023 (effectively $25.84 million if you’re married), you may think you don’t need to make any estate planning
The IRS will closely review any deductions you’re claiming for business meals or auto expenses. In some cases, taxpayers have incomplete documentation or try to create records months (or years)
The ‘gig’ economy has become ‘the norm’ in recent years. You may think of gig workers as those who deliver food, walk dogs, and drive for ride-hailing services, but so-called