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Do You Qualify for the Work-from-Home Tax Credit?

An unprecedented number of Americans are working from home now, thanks to the COVID-19 pandemic. It stands to reason that since you’re doing all the duties of your job from home—and you’re paying for the space, the utilities and the internet—you should be able to take the home office deduction, right? Before you start dreaming […]

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Tax Tips for After January 1, 2021

Your tax bill for 2020 isn’t necessarily set in stone—there are a variety of steps you can take now in the new year to lower the amount of money you owe, increase the amount of money you can get back and/or avoid various tax penalties. Here’s a quick overview of some tax tips you can […]

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Tax Tips for Work-from-Home Employees

With tax season upon us once more, it’s time to start thinking about how you’ll maximize your deductions. Thanks to the COVID-19 pandemic, more people than ever have been working remotely. If you’re one of the millions of Americans who spent most of the year handling work duties from your couch or kitchen table instead […]

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How S-Corp Owners Can Deduct Health Insurance Expenses in 2021

Ever since 2008, people who own more than a 2 percent share in an S-corporation in Round Rock, TX have been allowed to purchase individual health insurance under their name and then get reimbursed by that corporation. The premiums for these insurance policies were included on the W2 for the shareholder, and the shareholder would […]

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How to Deduct Home Office and Vehicle Expenses

Most people these days take the standard deduction on their taxes. This tends to be the most financially sensible option since the size of the standard deduction doubled for the 2018 tax year. However, for those who still itemize their taxes, two of the most common deductions are the vehicle and home office deductions. Here’s […]

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