Introduction Legal fees can be expensive, but some may be tax-deductible if they meet IRS guidelines. The Tax Cuts and Jobs Act (TCJA) of 2017 eliminated most personal legal...
Introduction The Child Tax Credit (CTC) is a valuable tax benefit for families with dependent children, helping to reduce tax liability and, in some cases, provide a refund. The...
Introduction Small business owners and self-employed individuals often use their vehicles for work-related purposes. The IRS allows deductions for business-related car expenses, but specific rules apply. You can choose...
Introduction Homeowners who invest in energy-efficient upgrades can qualify for valuable tax credits, helping them save money while reducing their carbon footprint. The IRS offers two main energy tax...
Introduction Charitable donations can lower your tax bill while supporting causes you care about. The IRS allows deductions for qualified contributions, but specific rules apply. To claim the deduction,...
Introduction Business travel can be a significant expense, but the IRS allows deductions for ordinary and necessary travel costs related to your work. Whether you’re a self-employed professional, freelancer,...
Introduction Medical expenses can be a significant financial burden, but the IRS allows taxpayers to deduct qualified medical costs that exceed a certain percentage of their adjusted gross income...
Introduction A compliance audit ensures that a business follows legal, financial, and industry regulations. It verifies whether a company meets IRS tax laws, employment rules, financial reporting standards, and...
Introduction Auditors play a crucial role in ensuring financial accuracy, detecting fraud, and verifying tax compliance. Whether conducting internal, external, or forensic audits, auditors help businesses maintain financial integrity...
 Introduction Freelancers and self-employed individuals must report all business income to the IRS and are responsible for paying self-employment tax. Unlike traditional employees, they do not have taxes withheld...