You’ve Probably Been Shorting Yourself on this Tax Deduction (But You Won’t After You Read This)

Most likely, you’re driving your car anyway – why not save money along the way? Mileage. It’s one of the most overlooked and misunderstood tax deductions for a couple of reasons: you may not realize how much money this can save you or you may not have a good system to track your mileage. Fortunately, apps can now do this for you, but as CEO of your own finances, you still need to know what you can and can’t deduct. First, here’s what’s new this year from the IRS –…

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Tax mistakes: Are you really trying to deduct your designer clothing as a work expense?

Read these 3 simple tips to find out what you can and can’t do on your taxes There are lots of tax advisors out there. I’m not talking about legitimate tax pros; I’m talking about the people you come across in your life who bestow their unsolicited tax “knowledge” on you. You know– your neighbor, your co-worker… your best friend. Of course there are many people who might actually know what they are talking about, but this wisdom is to be taken as one would take medical, legal or investment…

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Cyber Awareness

The month of October was National Cyber Security Awareness month.  Did you take time to make sure your personal information is safe?  So just like it is important to go back and double check your tax withholdings to make sure you are getting the refund you desire, it is equally important to make sure your internet connection is safe from hackers and intruders who wish to use your information. No one purposefully lays their wallet in front of someone or gives away their social security card but when we leave…

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Why This New Marriage Tax Penalty is the Worst Ever

Entrepreneurs, you have taken considerable time and effort to get your business up and running.  You should spend a significant amount of time preparing for your wedding as well. Marriage is a wonderful thing but it can cost huge tax consequences if you don’t plan in advance. You probably already know that some married couples will pay less in tax, especially if one spouse earns more than the other.  But for two well-paid professionals, their combined incomes may put them in the highest tax brackets, also causing their tax bills…

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