Since the 2018 tax reform, at-home expense deductions for employees have been reduced but remain for self-employed workers.
Depending on where you are, there might be some tax benefits for both parties. Employees could claim deductions for home office expenses, and employers could save on unnecessary costs like brick-and-mortar office space and utilities. So yeah, WFH stipends are a win-win all around. Employees ...
It's over! The final 2023 tax year extended filing deadline has passed, unless you get more time because your filing due date was extended further by a natural disaster like the three hurricanes that have made landfall in Florida this fall. For most of us, though, the passage of Oct. ...
Tips on Deductions Put Tax Laws to Work for YouAs you look with dismay at the impact of the new tax laws onyour returns and on your family...Porter, Sylvia
Sorry to say, but if you spent the last year working from home as a full-time employee, thatnifty new standing deskandtippy stoolaren’t deductible. You can thank former President Trump: HisTax Cuts and Jobs Act of 2017paused the home office deduction from 2018-2025. ...
2025 tax year updates: New brackets, deductions & more Tax brackets and standard deductions have increased for tax year 2025. Here's how it affects you. By Laura Rodini Oct 24, 2024 6:52 PM EDT BA Striking Boeing workers make unexpected decision in contract vote Some 33,000 machinists in...
6. Tax Deductions How is an employee eligible for the home office deduction? The IRS says Form 8829 is available to homeowners and renters, and these taxpayers must meet certain requirements. If eligible, remote workers can deduct insurance, depreciation, mortgage interest and other critical costs...
For the 2023 tax year, the deadline was February 29, 2024. Now, what many Canadian taxpayers don’t realize is that you don’t have to deduct all those contributions in the same year. You can choose to carry forward some or all your RRSP contribution deductions into future years. ...
Ways to work around tax-reform limitations, including timing deductions and offsetting gains Citrin Cooperman Partner Erin Avnet spoke with ROI-NJ's Meg Fry about ways to work around tax-reform limitations. "The Tax Cuts and Jobs Act is certainly not without its issues,...
Check out TaxAct Self-Employed to help you accurately file your self-employment income and deductions. Prepare for your second year of business It’s never too early to plan for next year. Once you file your tax return, there are some things you should consider doing to make next year ...