By law, U.S. citizens and resident aliens living abroad must file a U.S. income tax return and report any worldwide income. Some key tax benefits, such as the foreign earned income exclusion, are only available to those who file U.S. returns. As such, if you are living or working outside.. Continue reading →

Are you confused about which credits and deductions you can claim on your 2022 tax return? You're not alone. With tax law becoming more complicated every year, it's hard to remember which tax breaks are available in any given year. With that in mind, here are five tax breaks you.. Continue reading →

Are you wondering if there's a hard and fast rule about what income is taxable and what income is not? The quick answer is that all income is taxable unless the law specifically excludes it. But as you might have guessed, there's more to it than that. Taxable income includes.. Continue reading →

Here's what business owners need to know about tax provisions for 2022: Standard Mileage Rates Due to inflation, there were two standard mileage rates in 2022: 62.5 cents per business mile driven (July 1-December 31, 2022) and 58.5 per business mile driven (January 1-June 30, 2022). Health Care Tax Credit.. Continue reading →

Cash flow is the lifeblood of every small business but many business owners underestimate just how vital managing cash flow is to their business's success. In fact, a healthy cash flow is more important than your business's ability to deliver its goods and services. While that might seem counterintuitive, consider.. Continue reading →