Due to the pandemic, many employees have started working from home. It looks like this trend is very popular and will continue even after the pandemic is over. Of course, immediately the question comes to mind about tax deductions since working at home very often involves a separate room, new desk, possibly extra utilities, even […]
What is per diem? Per diem is a fixed allowance amount that could be used in your tax return as a deduction. Literally, per diem means “per day,” and you can think of it as a set amount that you will be reimbursed for certain expenses per day. Instead of keeping a receipt every single […]
Where did FBAR come from? This law came into force in the 1970s intending to prevent tax evasion. It existed for many years, yet it wasn’t enforced and the majority of us have never heard about it. In 2010 information about this law appeared out of thin air, mostly due to the creation of […]
Say goodbye to free tax return preparation using TurboTax. If you used this popular tax software to prepare and submit your taxes to the IRS, you will have to find another option in 2022. TurboTax is leaving the Free File program next filing season. If you requested extra time to file and now have until […]