Posts in Tax Deductions
Q&A With Bill: Are Expenses From a Hobby Tax Deductible?

After getting hit with an unexpected tax bill in 2018, a client recently decided she would start taking extra deductions by claiming expenses from her jewelry making hobby on next year’s tax return. While this may sound like a great idea, the Internal Revenue Service (IRS) has some pretty strict guidelines on what hobby expenses are considered deductible.

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Have an IRA? Contribute by April 15th to Claim It for 2018

With tax season in full swing, we’d like to remind taxpayers it’s not too late to contribute to an Individual Retirement Arrangement (IRA) and still claim it on your 2018 tax return. In fact, anyone with a traditional IRA may be eligible for a tax credit or deduction on their 2018 tax return if they make contributions by April 15, 2019. 

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