We often talk about tracking your mileage and expenses for tax purposes. But, what are you supposed to do with it? Let’s go over the basics on reporting business mileage on your tax return.
We often talk about tracking your mileage and expenses for tax purposes. But, what are you supposed to do with it? Let’s go over the basics on reporting business mileage on your tax return.
The R&D tax credit is a governmental incentive designed to encourage research and development activities in the US. This credit offers a dollar-for-dollar reduction on federal taxes for […]
Living abroad as a self-employed U.S. expat comes with unique financial benefits, one of which is the Foreign Housing Deduction. This deduction can significantly lower your taxable income by allowing […]
SECURE Act 2,0 with over 60 provisions mostly all related to retirement plans, was enacted December 29, 2022 as part of the Consolidated Appropriations Act, 2023 (P.L. 117-238). I maintain a table of […]
KEY POINTS OF IRS DEFINITION: General Area of Business Activity: The IRS defines your tax home as the “entire city or general area” of your regular workplace or place of business, regardless of where […]
Historical and New Energy Credits Indicate “Potential” New Tax Strategy Historically, the Code provided two types of credits for renewable energy projects. The first being the production tax credit […]
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