Life on the road isn’t just demanding. It can be expensive. Between fuel, meals, lodging, maintenance, and regulatory fees, truck drivers often face significant business costs just to keep moving. The good news is that many of these expenses can be deducted from your taxable income, reducing the amount you owe the IRS. This guide […]
Can You Reapply for an Offer in Compromise After It’s Denied?
If your Offer in Compromise (OIC) was denied, you might feel like the IRS just closed the door on your best shot at resolving your tax debt for less than you owe. But here’s the good news: a denial doesn’t always mean it’s over. You can reapply for an OIC, and in some cases, you […]
Tax Breaks for Homeowners: Mortgage Interest, Property Taxes, and More
Owning a home offers significant opportunities to save money at tax time. The tax breaks for homeowners can include both deductions, which reduce your taxable income, and credits, which reduce your tax bill dollar?for?dollar. Understanding which ones apply to you could mean hundreds or even thousands of dollars in savings each year. In this guide, […]
How to Track and Deduct Business Use of a Personal Vehicle
When you use your personal vehicle for work-related purposes, you may be eligible to deduct certain expenses from your taxes. But understanding how to properly track and deduct business use of a personal vehicle can save you time, money, and frustration. In this guide, we break down everything you need to know about choosing the […]
Are Property Taxes Deductible?
Property taxes are a significant aspect of homeownership and real estate investment. They are levied by local governments and are a critical source of funding for public services such as schools, roads, and emergency services. Property taxes are paid on property owned, either by an individual or a legal entity. How much property tax you are […]