Did you know you can claim mileage deductions if you use your vehicle for business or certain other approved activities? You calculate this deductible amount using the IRS mileage rates. Since the IRS updates these official rates regularly to reflect…
As a married business owner in the U.S., choosing between Married Filing Jointly or Married Filing Separately can impact how much you owe the IRS. While most married couples file jointly, there are strategic reasons why some may benefit from…
Congratulations! Your baby has a retirement account! Yes, you read that right. And no, it’s not a meme. On July 4, 2025, a sweeping federal law introduced a new type of tax-advantaged savings account for children, known as the Trump…
I get asked this question a lot. Can I write off my gym membership? A lot of it depends on which gym you attend, why you attend it. If for example you go to more of a country club type…
Remember that you can only deduct expenses that were not eligible for reimbursement by your employer under this section of your return. If you didn't turn in your expense report on time, there is no deduction!
This year's market has definitely been interesting to say the least. Homes have been bought, sold, flipped, and rented. Wholesalers and retailers and just about everything else under the sun has had to do with real estate has been at…