This article explains the workings, qualifications, and tax benefits of each with a side-by-side comparison chart of the two programs.
About Alex Franch, BS EA
Eldercare Can Be a Medical Deduction
Learn about the tax implications for individuals providing care for elderly loved ones who cannot live independently. The cost of care may be tax deductible as a medical expense, either claimed by the person receiving care or by the person paying the expenses under the category of “Medical Dependent.”
Want to Improve Your Cash Flow? Shorten the Amount of Time it Takes to Get Paid
Modernizing your back office processes can, among other things, help to dramatically reduce the amount of time it takes to get paid.
Worried About Getting Audited? Here’s What You Need to Know About Your Chances
Learn about the odds of getting audited by the IRS and how claiming the Earned Income Tax Credit (EITC) can increase your chances of getting audited. With increased funding for the IRS, consulting a financial professional when filing your taxes is more important than ever.
May 2023 Business Due Dates
Have a look at the Due Dates for Businesses in May 2023
Commonly Asked Tax Questions
Those dealing with income taxes only once a year when involved with their own personal tax return often have questions related to tax terminology.