Most people hear the phrase “Research and Development” or “R&D” and think “That doesn’t apply to me”. They think the term implies only to the use of scientists in a lab. In reality, the definition of Research and Development as it pertains to the income tax credit is quite...
Whether self-employed or an employee, you may be able to deduct certain expenses for the part of your home you use to conduct business.
There’s more than one way to collect deductions. “It’s better to give than to receive,” the old saying goes. Fortunately, charitable giving can also help save on taxes. Here are six ways to maximize your deductions:
Now that school is back in session, it’s time to take a look at the various tax benefits you may qualify for to help offset the cost of higher education. Below are the various benefits that you may qualify for. If you are “phased out” don’t be discouraged; there...
Are you looking for ways to lower your income tax bill? Health savings accounts, or HSAs, are a great tool that can help you shelter income from tax and be a part of your financial plan.
In today’s world, most businesses will develop a website and the costs involved can vary greatly depending on the complexity of the site. Website development can be complex and understanding the appropriate tax treatment of the costs can be similarly complex. Do website development costs fall under the “intangible”...
One of the most popular income tax deductions is the donation to charity. Everyone seems to know that this is a write off on their tax return and keeps track of every dollar they give away. However, not everyone knows that you can get a double benefit if you...
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