Marriage and Taxes
Couples getting married this year know there are a lot of details in planning a wedding. Along with the cake and gift registry, their first tax return as a married couple should be on their checklist. The IRS has tips and tools to help newlyweds consider how marriage may affect their taxes. Here are five simple steps that can make filing their first tax return as newlyweds less stressful. Step 1: Taxpayers should check their withholding at the beginning of each year, or when
Home office deduction benefits eligible small business owners
Small business owners may qualify for a home office deduction that will help them save money on their taxes, and benefit their bottom line. Taxpayers can take this deduction if they use a portion of their home exclusively, and on a regular basis, for any of the following: As the taxpayer’s main place of business. As a place of business where the taxpayer meets patients, clients or customers. The taxpayer must meet these people in the normal course of business. If it is a sepa