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You may have loads of student debt, but it may be hard to deduct the interest

You may have loads of student debt, but it may be hard to deduct the interest

by Richard Hall | Dec 9, 2021 | Individual

More than 43 million student borrowers are in debt with an average of $39,351 each, according to the research group EducationData.org. If you have student loan debt, you may wonder if you can deduct the interest you pay. The answer is yes, subject to certain limits....
Planning for year-end gifts with the gift tax annual exclusion

Planning for year-end gifts with the gift tax annual exclusion

by Richard Hall | Dec 3, 2021 | Individual

As we approach the holidays and the end of the year, many people may want to make gifts of cash or stock to their loved ones. By properly using the annual exclusion, gifts to family members and loved ones can reduce the size of your taxable estate, within generous...
2021 Q4 tax calendar: Key deadlines for businesses and other employers

2021 Q4 tax calendar: Key deadlines for businesses and other employers

by Richard Hall | Dec 1, 2021 | Small Business

Here are some of the key tax-related deadlines affecting businesses and other employers during the fourth quarter of 2021. Keep in mind that this list isn’t all-inclusive, so there may be additional deadlines that apply to you. Contact us to ensure you’re meeting all...
The deductibility of corporate expenses covered by officers or shareholders

The deductibility of corporate expenses covered by officers or shareholders

by Richard Hall | Nov 23, 2021 | Small Business

Do you play a major role in a closely held corporation and sometimes spend money on corporate expenses personally? These costs may wind up being nondeductible both by an officer and the corporation unless proper steps are taken. This issue is more likely to arise in...
Are you a nonworking spouse? You may still be able to contribute to an IRA

Are you a nonworking spouse? You may still be able to contribute to an IRA

by Richard Hall | Nov 15, 2021 | Individual

Married couples may not be able to save as much as they need for retirement when one spouse doesn’t work outside the home — perhaps so that spouse can take care of children or elderly parents. In general, an IRA contribution is allowed only if a taxpayer earns...
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