Be aware of these upcoming Tax Due Dates for 2025! February 18 Employers: Deposit nonpayroll withheld income tax for January if the monthly deposit rule applies. Employers: Deposit Social Security, Medicare and withheld income taxes for January if the monthly deposit rule applies. Businesses: Provide Form 1099-B, 1099-S and certain Forms 1099-MISC (those in which payments in Box […]
Upcoming Tax Due Dates Read More »
With so many people working remotely, it’s become more common to think about moving to another state, perhaps for better weather, to be closer to family or to reduce living expenses. Retirees also look at out-of-state moves for many of the same reasons. If you’re thinking about such a move, consider taxes before packing up
Don’t Move … Until You’ve Considered the Tax Implications Read More »
Working from home isn’t new, especially for self-employed people. But during the height of the pandemic, millions of jobs were moved from employers’ premises to employees’ private homes. Many continue working from home and wonder if they qualify for the home office tax deduction. The short answer is: Only if you’re self-employed. As a result
Who Can Take the Home Office Deduction? Read More »
Tax-saving benefits are generally available when your business puts newly acquired qualifying assets into service. Under Section 179 of the tax code, companies can take substantial depreciation deductions, subject to various limits adjusted annually for inflation. Another potential write-off is for first-year bonus depreciation. Like the Sec. 179 deduction, bonus depreciation is subject to limits
Updated Guide to Robust Depreciation Write-offs for Your Business Read More »
