Archive for January 2025
Common Tax Deductions Individuals May Be Missing
Individual Tax Deductions Common Tax Deductions Individuals May Be Missing Many taxpayers focus on the standard deduction and never look deeper. Depending on your income, expenses, work, retirement contributions, charitable giving, medical costs, property taxes, and other circumstances, there may be deductions worth reviewing before you file. Azalea City Tax & Accounting Approximately 11-minute read…
Read MoreWhat Are the Tax Implications of Selling Your Home?
Home Sale Tax Planning What Are the Tax Implications of Selling Your Home? Selling a home can create a substantial financial gain, but that does not automatically mean you will owe capital gains tax. Federal tax law provides a valuable exclusion for many homeowners, while basis, improvements, selling expenses, prior rental use, depreciation, and reporting…
Read MoreThe Top Ten Tax Changes Small Businesses Are Facing in 2025
Small Business Tax Planning The Top Ten Tax Changes Small Businesses Are Facing in 2025 Tax law never stands still. From equipment deductions and retirement-plan limits to research expenses and information reporting, 2025 brought several important developments for business owners. Here are ten areas small businesses should understand when preparing returns and planning ahead. Christopher…
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