Married Couple Filing Separate Tax Returns: Why Would They Do It?
If you’re married, you may wonder whether you should file joint or separate tax returns. The answer depends on your individual tax situation. In general, it depends on which filing status results in the lowest tax. But keep in mind…
Read moreDid You Give to Charity in 2021? Make Sure You Have Substantiation
If you donated to charity last year, letters from the charities may have appeared in your mailbox recently acknowledging the donations. But what happens if you haven’t received such a letter — can you still claim a deduction for the…
Read moreKeeping Meticulous Records is the Key to Tax Deductions and Painless IRS Audits
If you operate a business, or you’re starting a new one, you know you need to keep records of your income and expenses. Specifically, you should carefully record your expenses in order to claim all of the tax deductions to…
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