Can I Deduct Medical Expenses? What Counts and What Doesn’t Medical expenses can add up quickly, especially for individuals and families facing significant health challenges. The good news is that the IRS allows you to deduct certain medical expenses on your tax...
Divorce and Taxes: Filing Status, Alimony, and Dependents Divorce brings significant emotional and financial changes, and one area that’s often overlooked is how it impacts your taxes. From determining your filing status to understanding alimony rules and claiming...
How Major Life Changes Affect Your Taxes (Hint: You’re Going to Like It) Major life changes and taxes—like getting married, moving, or having a baby—are exciting milestones that often come with significant financial adjustments. But here’s some good news: these events...
Three Ways to Deduct Your Dog, Cat, or Other Animal Expenses Owning a pet is often an expensive yet rewarding experience, with annual costs for dogs ranging from $1,270 to $2,800. While the love and companionship pets provide are invaluable, the IRS views their...
Maximize Your QBI Deduction Before It’s Gone: Act Now! Introduced by the Tax Cuts and Jobs Act (TCJA), the Qualified Business Income (QBI) Deduction has become a cornerstone tax break for business owners. However, this valuable deduction is scheduled to sunset after...
