Tax deductions

Tax season can be stressful and overwhelming. Unless you’re a numbers person who enjoys filing each year, completing your income taxes is a job you likely want to finish as quickly as possible. That impatience can lead to mistakes. Making small errors can be just as devastating to your tax refund as making big ones, […]

Being a landlord can bring in a significant revenue stream, but it isn’t as easy as it looks. There are a lot of investments involved, including insurance, property taxes, and additional mortgages. On top of that, renting out real estate can make tax season tricky. If you own a rental property, or are considering getting […]

If you’re self-employed, you may feel a little lonely during tax season. After all, it’s hard to gauge which deductions you’re entitled to when there are so many personalized expense categories to consider. Regardless of your income, these tax reductions can lead to significant savings. Let’s break down which deductions are available for the self-employed, […]

When discussing income tax, it’s easy to confuse similar-sounding technical terms. The boundaries around tax exemption and tax deduction are particularly blurry. Although these two types of reductions tend to be used interchangeably, they have separate structures and operate under distinct criteria. Recognizing the differences between exemptions and deductions will help you gain a better […]