Marriage can have a tax-rate advantage, but it depends on the incomes. Did you know you can actually save tax money if one spouse is making a lot less than the other? It’s true. The tax bill of the high-income earner can almost (if not totally) be cancelled out. Continue reading
“Your tax deductions, tax strategies, and tax records hinge on the following federal income tax defined terms: Personal Home, Tax Home, Business Travel, Business Transportation.”¹
The United States tax law encourages business activity by offering many tax benefits to entrepreneurs. Specifically, the tax code provides advantages to small business owners, depending on how you choose to organize your business. Running a home business has its advantages, as home-based businesses qualify for several additional deductions and tax credits. By maximizing these deductions, the home business owner can reduce his tax liability. Continue reading