A tax deduction reduces the amount of income subject to tax, while a tax credit is a dollar-for-dollar reduction in tax liability. A tax credit… Read More »What’s the difference between a tax deduction and a tax credit?
Do you use your car for business driving or maintain an office in your home? In either situation, you may have a choice of methods… Read More »Taxing Decisions – Car and Home Office Expenses
The tax-exempt status that nonprofit organizations enjoy does not relieve them of all tax-related concerns. If you are involved with a nonprofit in a leadership… Read More »NONPROFITS: Don’t Ignore These Tax Issues
A lot of business gets done outside of the office — over lunch, on the golf course, etc. The tax law allows deductions for business… Read More »DEDUCTING Meal and Entertainment Expenses