22 Popular Tax Deductions and Tax Breaks for 2023-2024

Tax benefits are generally broken into two major categories: tax deductions and tax credits. As you examine programs that could potentially apply to you, it’s a good idea to know the differences in how tax savings can work. In short, a credit gives you a dollar-for-dollar reduction in the amount of tax you owe. A…

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Little Known Tax Credits for Business Owners: Nurturing a community, fostering growth and making a positive impact

As a small business owner, your employees are the heart and soul of your organization. Many entrepreneurs understand the importance of a diverse, inclusive workforce and the benefits it brings, not just to the business, but to the community at large. Your commitment to hiring practices that uplift veterans, marginalized communities, and those facing barriers…

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Tips to Navigate Tax Filing Season and the IRS: Be proactive and follow these steps to ensure accuracy and compliance

Tax filing season can be a stressful time for many individuals. Dealing with the IRS and ensuring compliance with tax regulations can seem daunting. However, with proper preparation and a proactive approach, you can navigate the tax filing season with confidence. Here are a few valuable tips to help you effectively deal with the IRS…

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IRS Announces New 2024 Income Tax Brackets: Your advisor can help leverage these changes to impact your tax liabilities

It is crucial for individuals to engage in strategic tax planning with their financial advisors, particularly considering the upcoming changes to the standard deduction and tax brackets for the year 2024. These modifications, affecting filers who do not itemize their deductions, will only be reflected in the tax returns filed in early 2025. The Internal…

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