Tax Deductions

  • Charitable Donations and taxes

    Charitable Donations and Taxes

    Discover how charitable donations can make a difference while benefiting from valuable tax deductions on our informative website.

    Read More

  • Small business tax deductions

    Small business Tax Deductions You Might Not Know About

    Numerous entrepreneurs fail to fully capitalize on the array of tax deductions that are readily accessible. Presented below are a few deductions that you should not overlook. Inventory Certain businesses that rely on inventory may engage in manufacturing or purchasing products for resale. In such cases, it is permissible to deduct the expenses associated with…

    Read More

  • Tax Tips for Business Success

    7 Biggest Tips For Lowering Business Tax

    As a proprietor of a small enterprise, it is common to assume various roles and responsibilities. Your primary focus is likely on efficiently managing the operations of your business rather than prioritizing tax optimization. Nevertheless, there exist several viable avenues for reducing your tax liability through widely recognized tax deductions specifically designed for small businesses.…

    Read More

  • Profit Wise Accounting Closing Cost & Tax Deductions

    Closing Cost and Tax Deductions

    What are Tax Deductions? Tax deductions refer to the expenses that can be claimed on an individual’s federal tax return to decrease their taxable income. By availing these deductions, the amount of taxes payable in a particular year can be reduced. Taxpayers have the option to either itemize their taxes by calculating their individual deductions…

    Read More

  • How to make your vacations a tax deduction?

    How to make your weekend getaways a tax deduction?

    As a business owner, one of the advantages is the ability to claim tax deductions for expenses related to the business. When planning for your upcoming vacation, it is important to ensure that you capitalize on all the legally entitled tax write-offs, including the opportunity to reduce your tax liability by converting your vacation into…

    Read More

  • Industries Restaurants and Bar, R&D Tax Credits for Restaurants

    R&D Tax Credits for Restaurants

    Are you a restaurant owner? Are you taking advantage of research and development (R&D) tax credits? In an age where technology is an integral part of how restaurants operate, it is crucial for your establishment to find new ways to stay on the cutting edge and keep up with competition.

    Read More

  • Tax Changes for Short-term Rental Hosts

    Tax Changes for Short-term Rental Hosts

    The Tax Cuts and Jobs Act has important changes that may impact your vacation rental property. If you use an online rental service like Airbnb, HomeAway, or VRBO to rent out your vacation home you might want to take a look at these tax changes.

    Read More

  • Home Ownership

    Home Ownership —Tax Laws

    Navigating our way through the new tax laws concerning home ownership. What’s deductible: closing costs, mortgage interest, property taxes? Let’s take a closer look and break down some of the basics.

    Read More