by Megan Kosciolek, MST | Sep 6, 2023 | Blog, Business, Tax, Uncategorized
The Tax Cuts and Jobs Act liberalized the rules for depreciating business assets. However, the amounts change every year due to inflation adjustments. And due to high inflation, the adjustments for 2023 were big. Here are the numbers that small business owners need to...
by Megan Kosciolek, MST | Aug 30, 2023 | Blog, Business, Tax, Uncategorized
If you’re getting a divorce, you know the process is generally filled with stress. But if you’re a business owner, tax issues can complicate matters even more. Your business ownership interest is one of your biggest personal assets and in many cases, your marital...
by Megan Kosciolek, MST | Aug 19, 2023 | Business, Tax
Does your business receive large amounts of cash or cash equivalents? If so, you’re generally required to report these transactions to the IRS — and not just on your tax return. The requirements Each person who, in the course of operating a trade or business, receives...
by Megan Kosciolek, MST | Aug 19, 2023 | Tax
The federal student loan “pause” is coming to an end on August 31 after more than three years. If you have student loan debt, you may wonder whether you can deduct the interest you pay on your tax return. The answer may be yes, subject to certain limits. The deduction...
by Megan Kosciolek, MST | Aug 4, 2023 | Tax
More than a million Americans live in nursing homes, according to various reports. If you have a parent entering one, you’re probably not thinking about taxes. But there may be tax consequences. Let’s take a look at five possible tax breaks. 1. Long-term medical care...
