Students across the country are heading back to school this month. The payment of tuition fees, organizing student loans and other education-related expenses always draws out many questions about what education costs will result in credits or tax deductions for...
You’ve probably heard the words ‘tax shelter’ at some point, in the context of wealthy people trying to reduce the amount of taxes they need to pay. Sometimes there is a negative connotation implied, as if the practice is illegal or immoral. In...
Tax planning is an important part of your financial plan. As discussed in a previous blog, tax planning can save you a bunch of money each year with a little bit of knowledge and guidance. One of the first steps in tax planning is to know your tax rate now so that you...
Tax planning doesn’t sound like a fun way to spend a few hours. But, when you know the benefits could save you a lot of money in the future—suddenly it’s worth looking into. Tax planning involves analyzing your financial situation from a tax perspective to...
How to Handle Vehicle Costs on Your Tax Return Each Year the IRS determines standard mileage rates that taxpayers can use to deduct vehicle expenses incurred for work, for medical reasons, or in the service of a qualifying charity. The standard mileage is a simple way...