Tax Season Cleanup: Which Records Can You Toss?
If you’ve filed your 2024 tax return, you may be eager to do some spring cleaning, starting with tax-related paper and digital clutter. But don’t be hasty.
If you’ve filed your 2024 tax return, you may be eager to do some spring cleaning, starting with tax-related paper and digital clutter. But don’t be hasty.
If you own or manage a business with employees, you could be personally responsible for paying a harsh tax penalty.
Under Section 179 of the tax code, companies can take substantial depreciation deductions, subject to various limits adjusted annually for inflation.
To avoid losing valuable charitable deductions if you itemize, you’ll need specific documentation, depending on the type and size of your gift.
As the holidays approach, it’s time to consider tax planning moves that will help lower your 2024 taxes, as well as set you up for tax savings in future years.