We are less than two weeks apart from the start of this tax season, and we must start preparing to file our income tax return accurately and in a timely manner. However, it is common for people to feel overwhelmed by this process. If we feel stressed or pressured when we think about our taxes,…
Being a business corporation comes with many advantages, including several tax deductions that the IRS allows for expenses that are needed to keep our operations going. There are different types of expenses that can be deductible, including current expenses and capital expenses. Current expenses are the expenses needed to keep our corporation fully operational, while…
Most of us have been in the situation of almost forgetting to complete our Income Tax Return files, whether it is because of our hectic schedules, stress, work, family life, or whatnot. Maybe it only slipped our mind this one time, or there might even be someone out there who thought their income did not…
Every year, millions of taxpayers get ready to file their income tax return, a process that is feared by many, but that we all need to take care of. Having to collect and document our expenses can be a daunting task, especially when we don’t have the proper guidance. However, there are other situations that…
Trying to file our taxes as soon as possible requires careful planning and a decent amount of time. However, the Internal Revenue Service (IRS) made available an online tool that has made the process easier and faster. During the last two decades, there has been a significant increase in e-filing. Last year, 92% of taxpayers…
Last week we talked about some really useful tax deductions you might be able to take advantage of during the upcoming tax season. This week, we´ll be discussing 3 types of tax credits you might also qualify for. As the year is almost over, we want to make sure you are informed and prepared for…
Nowadays, digital technologies are becoming an essential part of our lives. Several industries are also going through a process of digitalization and automation that will soon become the standard. There are several technology trends in health insurance, particularly, that are changing the way the industry works. In order to take advantage of them, we should…
There is a clause in our homeowner’s policy that few of us are aware of. The Anti-Concurrent Causation clause is one of those best-kept secrets of the industry. This clause represents a huge risk for homeowners whose houses might be damaged or destroyed by a natural disaster or “peril”. It’s important to understand what the…
The year is almost over, and most of us are starting to prepare for the upcoming tax season. The Internal Revenue Service has not announced yet when will the tax season officially begin, though. Nevertheless, being prepared for when it does can save us a lot of time and effort when filing our income tax…
When it comes to tax deductions, the IRS has strict rules and regulations regarding the type of expenses we can deduct and those that we cannot. With tax season being only a couple of weeks away, we might want to make sure we are not requesting a deduction we do not qualify for. Therefore, we…