Plug into Tax Savings: A Guide to Electric Vehicle Tax Credits I. Introduction Electric vehicles (EVs) have been gaining popularity in recent years as a cleaner and more energy-efficient alternative to traditional gasoline-powered cars. Unlike gas cars, which rely on fossil fuels, EVs run on electricity and emit zero emissions while driving. This makes them […]
Nine tax credits for small businesses that can help increase their profits. Introduction Tax credits for small businesses are incentives the government provides to encourage business growth and economic development. These credits are usually applied against income tax and can help reduce a business’s overall tax liability. They can provide a significant source of capital […]
Top Reasons to Invest in Solar Energy and Take Advantage of the Tax Credit: Introduction The solar energy tax credit is a federal tax incentive designed to encourage businesses and individuals to invest in solar energy. It provides a dollar-for-dollar reduction in income tax liability, meaning that if you invest in solar energy, you can […]
The 8 most important tax deductions for small businesses It is crucial for small business owners to take advantage of tax deductions for multiple reasons, including reducing their tax burden, increasing their profitability, encouraging investment, and enhancing their growth. Let us look at these tax deduction aspects in detail Have Question? CONTACT US NOW !!! […]
Tax planning strategies for small businesses that you need to know To create a successful tax planning strategy, small business owners should engage with an experienced tax advisor, EA or CPA. The more accurate your projections are, the more successful your tax planning efforts are. Right now, your accountant is reviewing your records to determine […]
Tax Planning Services vs. Tax Preparation: What Should You Choose? Many people get tax planning and tax preparation mixed up. While both are vital services, they serve different functions. There are considerable differences between the two that you should be aware of. Let’s examine the two in further detail. Have Question? CONTACT US NOW !!! […]
Tracking Vehicle Expenses for Your Taxes Should you do it? It’s no surprise if you’re worried about the expenses of owning a vehicle. The gas prices alone have sky-rocketed in these past few months. We’re dealing with the highest inflation rate of 9.1% in July compared to last year, which was very alarming. Everyone should […]
14 Unusual Tax Deductions That the IRS Allows You’d be surprised to learn what unexpected tax deductions could be legitimate. If you’re itemizing for tax year 2021, you’re probably trying to claim as many acceptable deductions as you can. Why would you not? Some of them are pretty conventional. Mortgage interest. Medical expenses. Home […]
December 15th, 2021 marked the last deposit date for the child tax credit payment expanded under the American Rescue Plan (ARP). Though many had hoped the program would be continued, political leaders are struggling to find a way forward that makes the majority of Congress happy, and as a result, many families have been left […]