Planning a wedding is expensive, and when it comes to the honeymoon, many couples wonder if there’s a way to lighten the financial load—cue the intriguing idea of a honeymoon on business expense. At first glance, the concept of turning a romantic getaway into a tax-deductible trip might sound like the ultimate travel hack, but … Read more
When it comes to the tax treatment of business property gains, many taxpayers wonder, “does 1231 override 1245?” The simple answer is no — Section 1245 does not get overridden by Section 1231; instead, it takes priority or “overrides” Section 1231 but only in a very specific way related to depreciation recapture on certain types … Read more
If you’ve ever wondered whether you can claim your haircuts as a tax deduction, you’re not alone—“haircuts tax deductions” is one of the most searched-for topics during tax season, especially among freelancers, business owners, and anyone who wants to lower their tax bill. The idea of turning regular salon visits into a tax write-off is … Read more
If you’re looking at a tax return from five years ago and wondering whether you can still amend it, the answer depends on what you hope to achieve and a few key IRS deadlines. Generally, the IRS allows you to file an amended tax return—using Form 1040-X—to correct mistakes or update information on a previously … Read more
When it comes to the topic of Minor Recipient Inheritance Tax in the United States, things can get confusing fast-especially for families hoping to leave a financial legacy to children or grandchildren. Unlike many countries, there is no federal inheritance tax in the U.S., but a handful of states do impose their own inheritance taxes, … Read more
If you’ve ever wondered if you can write off first class travel, you’re not alone. Creative professionals, entrepreneurs, and business travelers alike dream of turning those plush seats and extra legroom into a savvy tax deduction. But before you start booking those premium tickets, it’s essential to understand the IRS rules, what “ordinary and necessary” … Read more
If you’ve ever wondered, “does home internet count as supplies and tools?”—especially when it comes to tax deductions for freelancers, remote workers, or small business owners—you’re not alone. The answer matters for anyone looking to claim home internet expenses, deduct work-from-home costs, or understand how internet bills fit into categories like business supplies, office tools, … Read more
When people ask, “What is the average return on I-Bonds?” they’re usually trying to figure out if these government-backed, inflation-protected savings vehicles are actually worth locking up their money for a while. And that’s a smart question. The average return on I-Bonds varies depending on current economic conditions—particularly inflation and fixed interest rates—making them a … Read more
Founded in 2010 by first-generation college graduates Will and Brian Geiger, Scholarships360 is an online platform designed to assist students in finding and applying for scholarships. The platform offers a comprehensive database of scholarship opportunities, financial aid advice, and resources to guide students through the college admissions process. According to their About Us page, their … Read more
If you’ve ever wondered, Do capital gains pay FICA?, you’re not alone. Many investors are unsure how taxes work when it comes to profits from selling stocks, real estate, or other investments. FICA taxes (Federal Insurance Contributions Act) are primarily used to fund Social Security and Medicare, but they apply specifically to earned income, like … Read more