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 |
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...
by PSA CPA | Sep 1, 2024 |
There are several types of common tax write-offs that can help lower your taxable income. Here’s a look at some of the most frequently claimed deductions: 1. Business Expenses: A primary category of tax write-offs, qualifying business expenses include costs like...
by PSA CPA | Sep 1, 2024 |
For many families, choosing private school education is driven by a desire for a more personalized and enriched learning environment. However, as tuition costs continue to rise, parents often wonder if there are tax deductions to help offset these expenses. This guide...
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