If this is your first time as a taxpayer and you don't know what to do, you need to start by identifying and defining your role and responsibility as well as your tax obligation. It is no use putting it off and it still has to be done. Want to know how to file taxes for the first time? Let’s dive in.
Read MoreAre health insurance premiums tax deductible? The answer is yes, but it has some limitations because it depends on the amount spent on medical expenses and also on the kind of health care services utilized. One of the points of contention is the type of services that qualify as medical expenses.
For that reason, fewer tax payers will qualify for this deduction as you will notice after reading this article.
Read MoreIf this is your first time claiming business losses on personal taxes, you might be confused and feel uncertain in many ways. One common question is this: Can I claim business losses on personal taxes?
The answer is yes- it’s actually a widespread practice. It has been since before all of the changes this year. There are just specific requirements that need to be met, and the filing process must be appropriately handled. (Don’t worry. We’ll get into all of that.)
Read MoreOne of the most incredible things about living in a digital world is that you can learn just about anything you want for free, including accounting. From YouTube videos to online college courses- a wealth of knowledge is at your fingerprints. If accounting is your jam, below are some of the best free online accounting courses.
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