Are you thinking about buying personal property (such as a car, a computer, or other equipment) or real property (such as a building)? If you use the property for personal purposes, it’s not deductible. But if you use it in
Families are now receiving their advance Child Tax Credit (CTC) payment for the month of October. This fourth batch of advance monthly payments, totaling about $15 billion, is reaching about 36 million families today across the country. The majority of payments
The last quarter of 2021 is a good time to check your tax withholding. Life brings constant changes to individual financial situations. Events like marriage, divorce, a new child or home purchase can all be reasons to adjust withholding. The
Some Roth IRA withdrawals are taxable. Even worse, some can be socked with a 10 percent early withdrawal penalty tax, and this can happen even when there’s no income tax hit. Any withdrawals from any of your Roth accounts are
An Act extending COVID-19 Massachusetts emergency paid sick leave, H.4127, was signed into law on September 29, 2021. This legislation modifies the Massachusetts COVID-19 Emergency Paid Sick Leave program in two ways: Extends the program until April 1, 2022 or
An important tax tip from the IRS: It is critical for business owners to correctly determine whether the individuals providing services are employees or independent contractors. An employee is generally considered anyone who performs services, if the business can control
The IRS reminds all taxpayers how expanded tax benefits can help both individuals and businesses give to charity before the end of this year. The Taxpayer Certainty and Disaster Tax Relief Act of 2020, enacted last December, provides several provisions
Families are now receiving their advance Child Tax Credit (CTC) payment for the month of September. This third batch of advance monthly payments, totaling about $15 billion, is reaching about 35 million families today across the country. The majority of payments
During National Small Business Week, the Internal Revenue Service reminds business owners that it’s critical to correctly determine whether the individuals providing services are employees or independent contractors. An employee is generally considered to be anyone who performs services, if
From IRS.gov: The Internal Revenue Service reminds taxpayers that the cost of home testing for COVID-19 is an eligible medical expense that can be paid or reimbursed under health flexible spending arrangements (health FSAs), health savings accounts (HSAs), health reimbursement
