by Paula Kennedy, EA | Jul 29, 2021 | Tax
More than 43 million student borrowers are in debt with an average of $39,351 each, according to the research group EducationData.org. If you have student loan debt, you may wonder if you can deduct the interest you pay. The answer is yes, subject to certain limits....
by Paula Kennedy, EA | Jul 13, 2021 | Tax
Do you have significant investment-related expenses, including the cost of subscriptions to financial services, home office expenses and clerical costs? Under current tax law, these expenses aren’t deductible through 2025 if they’re considered investment portfolios...
by Paula Kennedy, EA | Jun 30, 2021 | Tax
Married couples may not be able to save as much as they need for retirement when one spouse doesn’t work outside the home — perhaps so that spouse can take care of children or elderly parents. In general, an IRA contribution is allowed only if a taxpayer earns...
by Paula Kennedy, EA | Jun 28, 2021 | Tax
As we continue to come out of the COVID-19 pandemic, you may be traveling for business again. Under tax law, there are a number of rules for deducting the cost of your out-of-town business travel within the United States. These rules apply if the business conducted...
by Paula Kennedy, EA | Jun 28, 2021 | Tax
Are you age 65 and older and have basic Medicare insurance? You may need to pay additional Medicare premiums to get the level of coverage you want. The premiums can be expensive, especially if you’re married and both you and your spouse are paying them. But there may...
