Category: Tax Tip You Can Bank On

Claim a Tax Credit for Sending Your Child to Camp You may be able to claim the child and dependent care credit if you pay

Avoid Partnership Tax Filing with Two Little-Known Elections You are probably aware that running a business often means filing a separate business tax return. But

Update on Health Savings Accounts (HSAs) Health savings accounts (HSAs) are now more popular than ever. According to a recent survey, the number of HSAs

Using Children’s IRAs to Pay for College If your child has earned income (maybe from working in your business), you may want to consider establishing

Home Office with More Than One Business The office-in-the-home deduction produces good-to-excellent tax savings by turning personal house expenses into business deductions. Additionally, it enables you to deduct big vehicle expenses

Net Operating Loss Carryback or Carryforward Net operating loss (NOL) is a topic that clients and tax professionals often discuss. One of the biggest questions

Opportunity Zones Offer a Powerful Way to Reduce Taxes—Here’s What Investors Need to Know The Tax Cuts and Jobs Act—the sweeping tax reform law enacted in

Easily Fixing Depreciation Errors Can Save Thousands in Taxes Depreciation is such a valuable tax deduction because unlike most deductions, it doesn’t cost you a

The possibility of a recession looms large. According to one recent study, approximately 20% of all small businesses that open their doors today will close within the