by Mark Hampton | Dec 15, 2024 | Mark Hampton
Investing in energy-efficient upgrades for your home doesn’t just benefit the environment—it can also reduce your utility bills and qualify you for valuable tax credits. The federal government and some state programs offer tax incentives for homeowners who make...
by Mark Hampton | Dec 13, 2024 | Mark Hampton
Owning a home can be one of the biggest investments of your life—and, fortunately, the U.S. tax code offers incentives for homeowners through the mortgage interest deduction and property tax deduction. These deductions can significantly reduce your taxable income,...
by Mark Hampton | Dec 11, 2024 | Mark Hampton
In today’s gig economy, many people are running side hustles or full-time self-employment ventures. But with that additional income comes the responsibility of handling taxes, and, fortunately, a variety of tax deductions are available to offset these new costs....
by Mark Hampton | Dec 9, 2024 | Mark Hampton
Medical expenses can be a substantial financial burden, but the IRS offers some relief by allowing taxpayers to deduct qualified medical expenses. If your medical costs exceed a certain threshold of your income, you may be able to lower your taxable income by...
by Mark Hampton | Dec 7, 2024 | Mark Hampton
Giving to charity is not only a wonderful way to support causes you care about, but it can also provide valuable tax benefits. By understanding how charitable deductions work and following IRS rules for claiming them, you can reduce your taxable income and make the...
by Mark Hampton | Dec 5, 2024 | Mark Hampton
For taxpayers living in states with high taxes, the state and local tax (SALT) deduction has traditionally provided valuable tax relief. However, changes brought by the Tax Cuts and Jobs Act (TCJA) of 2017 have placed a $10,000 cap on SALT deductions, significantly...
