Tax Information |
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Tax Information
More Articles from Tax Information: Musk’s ‘DOGE’ commission eyes new app for Americans to file taxes The Washington Post Summary of the Latest Federal Income Tax Data, 2025 Update Tax Foundation How Trump’s Tax Cuts and Tariffs Could Turn Into Law The New York Times ‘Charter’ cities are gaining popularity in California, but voters are worried about new taxes San Francisco Chronicle The push for climate taxes gets real in Baku Financial Times Lackawanna hikes taxes 33% WNEP Scranton/Wilkes-Barre Oregon’s new state economist comes bearing gifts to lawmakers and taxpayers alike Oregon Public Broadcasting Act now for $7,500 EV tax credit: There's 'real risk' Trump will axe funding in 2025, lawyer says CNBC Trump's cut to Biden's EV tax credit, backed by Musk, may impact auto industry, experts say Fox News City of Aiken Official Notice of 2024 Taxes Due City of Aiken, SC (.gov) Millions of tax returns give a glimpse of American life—and provide you a better tax experience H&R Block Louisiana lawmakers search for ways to pay for Landry’s proposed income tax cut Louisana Illuminator Boone County property taxes expected to go up, as tax rate goes down, county official says Northern Public Radio (WNIJ) Conor Sen: To get the housing market moving, raise property taxes Pittsburgh Post-Gazette MORNING BUSINESS REPORT: Filing taxes on an app, weight loss drug cost coverage, new PC Eyewitness News 3 Thomas County considers sales tax proposal to reduce property taxes WTXL ABC 27 Tallahassee News Taylor Sentenced To Year In Prison For Unpaid Taxes Case Greater Wilmington Business Journal Colorado marijuana sales — and tax dollars — are still falling. The rise of intoxicating hemp may be to blame. The Colorado Sun Two-year tax task force releases property, income and business recommendations Indiana Capital Chronicle Chicago budget: Businesses oppose proposed liquor tax hike in Mayor Brandon Johnson's budget plan ABC7 Chicago Legislative leaders talk energy, taxes in Indiana Chamber Q&A Winchester News Gazette Croatia Set to Raise Taxes on Vacation Rentals Skift Travel News Legislators hope to end ‘dark stores’ tax loophole in lame duck session Iron Mountain Daily News Special session on taxes continues WWLTV.com Look Both Ways: Taxes Northern Star Online State Rundown 11/20: Some Budgets and Tax Proposals Fail to Defy Gravity, Fall Short Just Taxes Blog Congress Should Avoid Burdening Consumers with New Taxes on Broadband Internet Service American Legislative Exchange Council Enhanced Tax Credits Keep ACA Marketplace Coverage Affordable for 2025 Center on Budget and Policy Priorities Vermont's new Senate majority leader talks property taxes, goals for upcoming session Vermont Public Hampton taxpayers outraged over skyrocketing tax bills: 'You’re driving me out of my home' Seacoastonline.com Home values surged in Belleville. What does that mean for the schools’ property tax rate? Belleville News-Democrat 'Kicker' tax rebate, lately a guarantee for Oregon taxpayers, may soon be few and far between KGW.com Jim de Bree | Taxes After the Election Santa Clarita Valley Signal Lackawanna County’s tax hike is finalized. Now can we get along? WNEP Scranton/Wilkes-Barre Integrated Tax Rates on Corporate Income in Europe, 2024 Tax Foundation Chicago woman loses home despite paying property taxes on time — sold for ‘delinquent taxes.’ Yahoo Finance Montana lawmakers told property taxes could rise again if assessment rate unchanged - Daily Montanan Your reassessment notice is not your tax rate. What to know about your tentative value The News Journal State taxes task force concludes two-year run, makes nine recommendations to legislature Bluffton News Banner H&R Block and Intuit drop on a report that Elon Musk's DOGE may develop a new tax-filing app CBS News Where are property taxes rising the fastest? Look to Texas The Dallas Morning News Rep. Gwen Moore predicts President-elect Trump's tax proposals will need bipartisan support Wisconsin Public Radio News How higher property taxes increase home affordability Federal Reserve Bank of Minneapolis SC Republicans hopeful for tax reform, vouchers with new Senate supermajority South Carolina Daily Gazette The Tax Stakes for 2025 Tax Foundation Louisiana lawmaker says he’ll shrink proposal to apply sales tax to services Louisana Illuminator Property taxes, garbage rates rise in New Bethlehem The Courier-Express All I Want for Christmas? Property Taxes Bloomberg End-of-Year Tax Tips from ClientFirst Business Wire What could endowment taxes under Trump mean for Yale? Yale Daily News DOGE's potential first target is a mobile app for filing your taxes Business Insider Might Green Subsidies Trump Pollution Taxes? Energy Institute at Haas How Property Taxes Can Help Low-Income Countries to Develop International Monetary Fund Whatcom County Council votes 4-3 to adopt budget with an overall 2.7% increase in taxes Cascadia Daily News A West Texas lawmaker wants to redirect millions of tax dollars to plug abandoned wells, curb emissions The Texas Tribune Delaware County residents will see an increase in county taxes, councilwoman says The Delaware County Daily Times Editorial: Meet the new ‘head tax’: Brandon Johnson’s business levy could cause companies to flee for the suburbs Chicago Tribune Burrell supervisors defy darkness, freeze taxes Indiana Gazette Haverhill Reports $9.5 Million Surplus a Day After Setting Taxes; to Pay 3.53% on 20-Year Loans WHAV News Tariffs and taxes are not very inflationary Financial Times Treasury, IRS Final Regs on Direct Pay Expand Clean Energy Tax Credit Access CPAPracticeAdvisor.com Revenue department says property taxes could rise again Montana Free Press "We currently do not have the funds to pay these taxes": City of Archer declares financial emergency after failing to file six quarters of payroll taxes Alachua Chronicle Top Indiana Senate fiscal leader points to local income taxes as ‘backfill’ for property tax cuts State Affairs When given a choice, voters embraced tax fairness Nevada Current Appeals court rules counties cannot stack Missouri marijuana taxes Missouri Independent H-F abates $5.24 million in taxes for 2024 levy The Homewood-Flossmoor Chronicle Indiana County real estate taxes could rise again in 2025, this time by 7% The Wellsboro Gazette Burrell supervisors defy darkness, freeze taxes The Wellsboro Gazette |
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As a home-based business professional, there are a number of deductions you are entitled to which many tax preparers often miss. For example, if you run a home office you are entitled to deduct expenses for the percentage of square footage the home office is occupying. Expenses include the combined total of mortgage interest, property taxes, utilities, repairs, etc. For example, if 250 square feet of a 1,000 square foot house is being used for a home office, you are entitled to deduct a quarter of your total expenses. Although some deductions may seem minor, over an entire year, they can add up to thousands of dollars that you are unnecessarily paying the IRS. That is money that you could be using to grow your business. Karen McClafflin, owner of home-based Secret Canyon Realty in Colorado Springs, CO, was able to recover $11,000 when her tax preparer failed to include home office and automobile deductions in her past returns. 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Whether you do your taxes yourself and had to call the IRS for clarification on an issue or your CPA did, odds are the answer was not accurate. The United States tax law is one of the most complex in the world. Not to mention, tax laws change every year and have changed tremendously in the last couple of years. Even the best tax preparer, CPA or even IRS representative can easily make a mistake or, forget to use an exemption which could reduce your tax liability. If you have not yet filed your taxes, it is a good idea to get a second opinion from an independent source. The extra money and time spent in doing this could save you thousands. Look for someone or a company who: � Has sufficient years preparing home-based business tax returns � Prepares less than the average number of returns between January and April so that your return gets sufficient time and attention. � Have had clients get a second opinion. 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