Debate over health care and taxes moves to Senate
The future of the Affordable Care Act and its associated taxes has
moved to the Senate following passage of the American Health Care
Act (AHCA) in the House in April. Traditionally, legislation moves
FAQ: What are passive losses?
Individuals, trusts, estates, personal service corporations and
closely held C corporations may only deduct passive activities
losses from passive activity income. The rules do not apply to S
June 2017 tax compliance calendar
As an individual or business, it is your responsibility to be aware
of and to meet your tax filing/reporting deadlines. This calendar
summarizes important federal tax reporting and filing data for
How Do I? ... Keep a log for automobile expenses
If you use your car for business purposes, you may have learned
that keeping track and properly logging the variety of expenses you
incur for tax purposes is not always easy. Practically speaking,
How Do I? . . . Deduct student loan interest
There are tax benefits for which you may be eligible if you are
paying education expenses for yourself or an immediate member of
your family. In the rush to claim one of two education tax credits
No bright line between businesses and hobbies
Businesses benefit from many tax breaks. If you are in business
with the objective of making a profit, you can generally claim all
your business deductions. If your deductions exceed your income for
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