by PSA CPA | Sep 1, 2024 |
When planning home improvements, it’s essential to understand which projects may offer potential tax advantages. While most home improvement costs are considered personal and aren’t typically tax-deductible, there are notable exceptions. This guide will answer...
by PSA CPA | Sep 1, 2024 |
What Are Income Statements? Income statements, often referred to as profit and loss (P&L) statements, are financial reports that summarize an entity’s performance over a set time period. These documents are crucial for businesses and individuals alike,...
by PSA CPA | Sep 1, 2024 |
Child care is an essential need for American families, not a luxury. However, the rising costs of quality child care are surpassing other major expenses like housing and higher education, creating a financial strain for many. In 2022, the average annual cost of child...
by PSA CPA | Sep 1, 2024 |
The Residential Clean Energy Credit, commonly known as the solar tax credit, allows homeowners to recover up to 30% of the cost of installing solar panels. If you’ve installed a solar energy system, you may be eligible for this tax benefit when filing your...
by PSA CPA | Sep 1, 2024 |
Legally speaking, the later of these two dates is the latest day by which you can file a credit claim or get a federal income tax refund for a certain tax year: Either two years after the date of tax payment or three years after the date on which your federal income...
It’s interesting to see how Social Security benefits are taxed differently depending on income and location. I didn’t realize only…