by Megan Kosciolek, EA, MST | Apr 5, 2022 | Tax
The federal government is helping to pick up the tab for certain business meals. Under a provision that’s part of one of the COVID-19 relief laws, the usual deduction for 50% of the cost of business meals is doubled to 100% for food and beverages provided by...
by Megan Kosciolek, EA, MST | Mar 2, 2022 | Tax
If you own your own company and travel for business, you may wonder whether you can deduct the costs of having your spouse accompany you on a business trip. The rules for deducting a spouse’s travel costs are very restrictive. First of all, to qualify, your spouse...
by Megan Kosciolek, EA, MST | Mar 1, 2022 | Tax
If you’re getting ready to file your 2021 tax return, and your tax bill is more than you’d like, there might still be a way to lower it. If you’re eligible, you can make deductible contributions to a traditional IRA right up until the April 18, 2022, filing date and...
by Megan Kosciolek, EA, MST | Feb 3, 2022 | Tax
Traditional IRAs and Roth IRAs have been around for decades and the rules surrounding them have changed many times. What hasn’t changed is that they can help you save for retirement on a tax-favored basis. Here’s an overview. Traditional IRAs You can make an...
by Megan Kosciolek, EA, MST | Dec 15, 2021 | Tax
Year-end is a good time to plan to save taxes by carefully structuring your capital gains and losses. Consider some possibilities if you have losses on certain investments to date. For example, suppose you lost money this year on some stock and have other stock that...
