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Tax Tips for New Parents

RogerRossmeisl

As reported via IRS Tax Tip 2023-89 in October 2019 Kids are expensive. Whether someone just brought a bundle of joy home from the hospital, adopted a teen from foster care, or is raising their grandchild. There are several tax breaks that can help. The post Tax Tips for New Parents appeared first on Roger Rossmeisl, CPA.

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Are You Eligible for a Medical Expense Tax Deduction?

RogerRossmeisl

But can you deduct them on your tax return? Qualifying costs include many items other than hospital and doctor bills. The post Are You Eligible for a Medical Expense Tax Deduction? appeared first on Roger Rossmeisl, CPA. You may pay out a bundle in out-of-pocket medical costs each year. It’s possible but not easy.

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Tax Deductions for Self-Employed Physicians Filing Form 1099

Anders CPA

Making the transition from a W2 to a 1099 filer as a physician can unlock significant tax deductions that can minimize your tax burden and free up your funds so you can reinvest in your business. Working with a tax professional can help you identify and capture all eligible business expenses and minimize your net self-employment tax.

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Avalara and Actabl Partner for Automated Hotel Tax Compliance and Data Management

CPA Practice

Hospitality software company Actabl has partnered with Avalara, a provider of cloud-based tax compliance automation for businesses of all sizes. The agreement will enable more efficiency, cost savings, and empowerment within the hospitality industry through tax reporting and data management.

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Did You Miss Your State Tax Deduction?

KROST

If you are a shareholder of an S Corporation, partner/member of a partnership/LLC, you might be able to get some of your state tax deduction back. As you may remember, the federal Tax Cuts and Jobs Act reduced the amount of the SALT deduction individuals can claim on their federal tax return to $10,000 starting with the 2018 tax year.

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The Top Property Tax Compliance Challenges

CPA Practice

Anyone who deals with property tax knows firsthand how complex it can be to manage, especially given how tax laws differ not only between states but even among local jurisdictions within the same state. Ask three organizations how they manage their property taxes, and you’ll get three different answers.

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2024 Tax Planning Tips from Grant Thornton

CPA Practice

Recent tax changes coupled with the potential for an economic slowdown have made it even more critical for companies and individuals to make smart decisions on investments and financing. The energy cost savings together with the tax benefits can make a compelling case. Prepare for public stock buyback tax. Energy credits.