All The 2024 Inflation Adjustments You Need to Know About

Taxes on tips

Find out how tip money is taxed by the federal government and how you can know exactly what you need to pay.

Is college tuition deductible

Tax-based ways to save money on tuition and other education expenses are available to taxpayers who are students or to their parents. Unfortunately, deducting tuition from your taxes is not one of them.

Per diem meals

Here's how using the per diem deduction for business travel expenses can sometimes be a better option for self-employed people than itemizing every deductible travel expense.

Personal property tax deductions

Homeowners can save a significant amount by deducting their property tax payments from their taxable income. Here's how property taxes work and how they can be deducted.

Sales tax deduction

Most states have sales tax in place for consumers. It can increase your spending but there are ways to deduct the tax on your tax return.

Are working clothes deductible

A job might require a certain attire of uniform. The IRS allows business clothes as a write-off for certain individuals.

PPP loan for self employed

The PPP loan assisted small businesses and those self-employed to pay employees during the pandemic.

Are business gifts deductible

Giving gifts to clients or employees is a wonderful gesture of goodwill. However, some gifts are considered taxable and must be included on a tax return.

Simple IRA contribution limits

Opening up a SIMPLE IRA is a great way to save for retirement. It’s an option if you're a W-2 employee or self-employed.

Cash vs accrual

When you own a business, you need to choose an accounting system that best fits your needs. The cash and accrual accounting methods are two options that can work for you.

Jail for not filing taxes

Tax fraud and tax evasion are two serious offenses that may lead to jail time, and to avoid the consequences, you must file your taxes timely and accurately.

Are settlements taxable

Lawsuits can be difficult to navigate, but what about taxes on the settlement amount? While most amounts from settlements are taxable, there are some situations where lawsuits are tax-free.

Business vs commuting miles

Some of the miles you drive in your car can give you a sizable tax deduction, and some can't. Here's how to know the difference.

Goodwill donations tax deductions

Charitable goodwill donations help fellow Americans get through tough times, but these donations can also be written off your taxes.

How to escape IRS audit notice

The IRS may send you an audit letter requesting to review your financial information. There are several reasons why you might get an IRS tax audit letter.

Quarterly taxes due dates

Knowing the deadlines for quarterly tax payments is essential to making your payments on time and avoiding penalties.

1099 For Rent

Whether you're a landlord, property manager or tenant, the IRS has rules in place when it comes to the 1099 form for rental income.

1099 Workers Comp

Workers' compensation protects workers from injury or illness while on the job. A lot of businesses require independent contractors to have their own coverage.

Flyfin Vs Turbo Tax And HR Block

Many options are available to get help with tax filing, and knowing which one is best for you can be difficult. There are a few things about FlyFin's tax service that save taxpayers more than any other service is able to.

1099 Business Vs Hobby Tax Rules

The IRS has set rules for determining whether an activity is a hobby or a business. Hobby loss rules determine whether your expenses are tax deductible or not.

Deductible Education Expenses 2024

Education expenses like the interest on student loans can sometimes be deducted from your taxable income, and education tax credits can lower the amount that taxpayers have to pay in taxes.

SALT Deductions

The SALT tax deduction allows freelancers to reduce taxable income by as much as $10,000. Either state and local income taxes or sales can be deducted.