Which Business Assets Can Be Depreciated on Your Tax Return?

Most business owners understand the importance of deducting their business expenses on their tax returns. The cost of running a business can be quite high, and deducting expenses that are essential to business operation makes it possible for businesses to greatly reduce their tax bills. But not all business expenses...

Does Your Commute Count as Business Miles for Your Tax Return?

When you put miles on your car for business purposes, you can claim those miles as an expense on your business tax return. But it’s important to know which miles qualify for the deduction and which don’t. This blog will give you a quick overview regarding which miles you can...

Taxes on Your Home’s Sale: Do You Qualify for a Tax Exclusion?

If you’ve sold a primary residence in the last year, it’s important to be aware of how that sale impacts your tax return. In many cases, the profits from that sale can be excluded, which means you don’t need to report them as income. However, there are many factors that...

3 Things You Should Know about Cryptocurrency and Taxes

Though cryptocurrencies like bitcoin have been around for several years, it is only recently that large numbers of people have begun to jump into this type of investing. With promises of big returns, investors are diving in quickly, without putting much thought into how this type of investment impacts your...

What You Need to Know about Making Estimated Tax Payments

If you’re a W2 employee and have adequate taxes withheld from your paycheck, then you’ve likely never had to think about making estimated tax payments. But for those with a source of untaxed income, estimated payments are essential if you want to avoid penalties and fees from the IRS. The...