Can Self-Managing Investors Deduct Related Expenses?

Can Self-Managing Investors Deduct Related Expenses?

In some cases, investors have significant related expenses, such as the cost of subscriptions to financial periodicals and clerical expenses. Are they tax deductible? Under the Tax Cut ans Jobs Act (TCJA), expenses cannot be deductible through 2025 if they’re...
Tax Implications of Working From Home and Unemployment

Tax Implications of Working From Home and Unemployment

COVID-19 has changed our lives in many ways, and some of the changes have tax implications. Here is basic information on two common situations. 1. Working from home. Because of the COVID-19, many employees can not go back to work now. If you’re an employee who...
Homebuyers: Can You Deduct Seller-Paid Points?

Homebuyers: Can You Deduct Seller-Paid Points?

Despite the COVID-19 pandemic, the National Association of Realtors (NAR) reports that existing home sales and prices are up nationwide, compared with last year.One of the reasons is the pandemic: “With the sizable shift in remote work, current homeowners are looking...
Back-to-school Tax Breaks on the Books

Back-to-school Tax Breaks on the Books

Back-to-school Tax Breaks on the Books Despite the COVID-19 pandemic, students are going back to school this fall, either remotely, in-person or under a hybrid schedule. In any event, parents may be eligible for certain tax breaks to help defray the cost of education....