by Naveed Lodhi | Dec 29, 2024 | Tax Tips & Planning
The Educator Expense Deduction allows teachers, counselors, and other eligible educators to deduct up to $300 annually for out-of-pocket classroom supplies and professional development costs. This deduction can help reduce your taxable income, making your essential,...
by Naveed Lodhi | Dec 29, 2024 | Tax Tips & Planning
The information in this article is up to date for tax year 2024 (returns filed in 2025). No matter your age, it’s never too soon to start planning for your future. When considering your retirement, whether it’s around the corner or still decades away, it’s important...
by Naveed Lodhi | Dec 29, 2024 | Tax Tips & Planning
The information in this article is up to date for tax year 2024 (returns filed in 2025). Is rent tax deductible? Unfortunately, the answer is generally no for federal taxes. However, there are some exceptions and state-specific rules that might help. In this article,...
by Naveed Lodhi | Dec 29, 2024 | Tax Tips & Planning
The information in this article is up to date for tax year 2024 (returns filed in 2025). Have kids? If they’re under the age of 17, you may be able to claim a tax credit worth up to $2,000 per qualifying child. Currently, up to $1,700 of the credit is refundable....
by Naveed Lodhi | Dec 28, 2024 | Tax Tips & Planning
The information in this article is up to date for tax year 2024 (returns filed in 2025). Health insurance can be costly, with premiums, deductibles, and out-of-pocket expenses adding up quickly. For many, finding affordable coverage feels like a constant struggle....
by Naveed Lodhi | Dec 28, 2024 | Tax Tips & Planning
The information in this article is up to date for tax year 2024 (returns filed in 2025). For many working families, the cost of childcare is a huge financial burden. According to Care.com, parents spend an average of $321 per week on daycare costs. That’s...