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  1. Social Security Tax Update: How High Can It Go?

    Controversy surrounds the topic of Social Security, as the amount collected from higher income individuals continues to climb, and politicians continue to argue about solutions. Plus, there's no guarantee that taxpayers will collect what they've been promised. Here's how much individuals currently pay and how recent increases in benefits compare to the increase in tax collected.
  2. Exploring Alternative Financing Options for Your Business

    Access to capital is crucial for your company's growth and long-term financial stability. Before reaching out to potential lenders and investors, business owners should understand debt and equity financing alternatives that might be available. Here are three funding sources you might not have considered: angel investors, equity crowdfunding and peer-to-peer lending.
  3. QBI Deduction: Use It or (Possibly) Lose It

    Certain "pass-through" businesses are eligible for a special deduction of up to 20% of qualified business income (QBI). This tax break is designed to help achieve parity between the reduced corporate federal income tax rate and the tax rates for business income that passes through to individual owners. But it scheduled to expire after 2025, unless Congress extends it.
  4. Does the Marriage Penalty Still Exist Today?

    Married couples may face an important tax decision each year: Which tax filing status should they use? The so-called "marriage penalty" still exists under current tax law, but it's now smaller and affects fewer taxpayers than in the past. And some taxpayers may reap a tax bonus when they file jointly, compared to when they were single. Here's information to help decide what's right for your situation.
  5. New Twists and Turns Taken by EV Credits

    There are new-and-improved credits for qualifying electric vehicle (EV) purchases from 2023 through 2032. Here are details on which taxpayers and vehicles may be eligible for the clean vehicle credit and how to claim it on your federal income tax return or possibly receive a discount when you purchase a qualifying vehicle.
  6. Traveling for business in 2024? What’s deductible?

    For employers and their employees traveling for business this year, there are a number of considerations to keep in mind. Under the tax law, in order to claim deductions, certain requirements for out-of-town business travel within the United States must be met. The rules apply if the business conducted reasonably requires an overnight stay.
  7. Navigating the Risks of Check Fraud

    Many businesses still issue and accept paper checks that are sent through the mail, despite the prevalence of electronic payment methods. While paper checks may be convenient and familiar for some people, they can be stolen or altered by criminals. Here are six proactive measures you and your business can take to fortify your defenses against this threat.
  8. Bask in Tax Breaks for Vacation Home Rentals

    A second home is more than just a place for rest and relaxation. It can also provide rental income and lucrative tax breaks. But before you claim deductions on vacation home rentals, it's important to understand the federal income tax rules regarding rentals and the limits on personal use that may apply.
  9. Dos and Don’ts for Business Expense Deductions

    Knowing which expenses you can deduct from your business income can be tricky. In uncertain economic times, it's increasingly important to secure every legitimate deduction by following the rules and knowing what is and isn't deductible. As a new year begins, it's a good time to review which expenses are generally deductible and which ones aren't. Plus, you'll get a closer look at categories of expenses, including travel, entertainment, meals, client gifts and vehicle expenses.
  10. Can You Claim Your Parent as a Dependent?

    The Pew Research Center estimates that roughly one-third of adults with parents age 65 or older have given their parents financial support over the past year. If you provide at least half of the cost of supporting a parent, you may be entitled to various tax breaks. Here are four breaks to consider if your parent qualifies as your dependent for federal income tax purposes.

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