How the PATH Act Can Save You Big on Taxes When You Buy Equipment for Your Business

Late 2015 marked the end of the annual year-end dance in Congress when the Protecting Americans from Tax Hikes (PATH) Act became law on December 18, 2015. For the first time, many popular and tax-saving  provisions were finally made permanent.…

Do You Have Household Employees? Here’s How to Avoid Trouble with the IRS

Do you pay someone to work in your home? Maybe a nanny or a gardener? Do you control what work is done and how it’s done? If so, that person may be considered your employee in the eyes of the IRS. If you pay them over $2,000 in 2017, you’ll…

Cash in Your Pocket for College Courses

Do you have kids in college? Or have you taken college courses to improve your job skills? The tax code has lots of ways to help you save on taxes, ranging from tax credits to deducting education expenses from your income.  The IRS has an Interactive…

How to Take a Home Office Deduction for your S-Corporation

If you use a part of your home for your business, the IRS lets you deduct a portion of your household expenses as a home-office deduction. For a partner in a partnership, this can simply be reported on Schedule E of your personal tax return…