Posts Tagged ‘Standard deduction’
When Should I Itemize Tax Deductions?
The standard deduction is the simplest way to do your taxes, but sometimes itemizing will save more money. Learn how to start calculating and which route to choose. Key takeaways: Itemizing deductions means you will list all eligible expense deductions on your tax return instead of claiming the standard. Most Americans claim the standard deduction…
Read MoreWhat Businesses Should Know About Charitable Contributions
In a perfect world, all charitable donations by businesses would be tax deductible. Unfortunately, there are caveats that entrepreneurs must know It seems like tax law is always changing. As an entrepreneur, you’re tasked with keeping up so that your business follows all regulations while making sure you understand all of the tax breaks available…
Read MoreHow the 2018 Tax Cuts and Jobs Act May Impact Your 2020
Even though it began in 2018, the TCJA’s effects are only now in full swing. How will it impact you in the next year? Changes in the Tax Cuts and Jobs Act (TCJA), which first went into effect in 2018, have really only been felt now that we’re well into 2019, and 2018 taxes have…
Read More