Taxes

Are Tax Preparation Fees Deductible?

Are Tax Preparation Fees Deductible?

Tax preparation fees can really add up. This is especially true if you're paying the quarterly self-employment tax. Are these tax preparation fees deductible? Read on to learn about how deducting tax ...Read more

How To Correct Your Tax Return

How To Correct Your Tax Return

The joyful moment of completing your taxes is soon interrupted when you discover a tax return error. Whether due to incorrect filing status, an understatement of income or a missed deduction, the ...Read more

How to Calculate Estimated Taxes For Self Employed

How to Calculate Estimated Taxes For Self Employed

In this week's Ask the Tax Expert, we cover how to calculate estimated taxes you owe. As you may know, small business owners and self-employed workers often have to pay estimated taxes four ...Read more

Tax Tip Tuesday: When Can You Deduct the Cost of Clothing?

Tax Tip Tuesday: When Can You Deduct the Cost of Clothing?

Do you have to dress nicely for work? Wouldn’t it be grand if you could deduct the cost of clothing? Unfortunately, most people can’t. The IRS says you can deduct the cost of clothing only ...Read more

Tax Tip Tuesday: When Can You Deduct a Cruise?

Tax Tip Tuesday: When Can You Deduct a Cruise?

Sea cruises can be fun. But can they also be tax deductible? Like with many things tax, the answer is “it depends.” Forget about getting a tax deduction for a pure pleasure cruise. You may, ...Read more

Recordkeeping for Tax Deductions

Recordkeeping for Tax Deductions

By far the most common reason small business owners lose tax write-offs like the mileage deduction when they are audited by the IRS is lack of proper tax deduction records backing up the claimed ...Read more