Can the Teachers’ Classroom Supplies Deduction Exceed $250?
Congress, recognizing that most classroom teachers spend a significant amount of their own money on classroom supplies, granted them a s...
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The Tax Professionals Blog · 446 articles
Maximizing Investment Expenses
Investment expenses are deducted from investment income when determining net investment income (NII). NII is used in two important tax co...
Read moreUber Driver Tax Treatment
This analysis does not address the potential employee/independent contractor issue related to Uber divers; it only deals with the tax tre...
Read moreChild-Care Credit, Split Schedule C
When both spouses in a married couple are involved in the operation of an unincorporated business, it is fairly common– but incorrect – f...
Read moreTax Treatment of Advanced Premium Tax Credit (APTC) Payback for Medical Deduction Purposes
Regarding the situation in which a client has to pay back part of the advance PTC, students have asked if that payback is a deduction in...
Read moreEstate Tax Exemption Going Down?
On April 20, 2016, House Ways and Means Committee Ranking Member Sander Levin (D-MI) introduced legislation that he said would bring fair...
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