Whether it's kids going back to school or learning from home, September provides families with a welcome return to structure and schedules. Here at Tax & Accounting Solutions, planning and timetables are part of normal business - even during a pandemic. Please contact us if you need help with tax planning during this most-unusual year.
Individuals
Teachers: Those school expenses might be tax deductible
School may look a little different this year, but eligible teachers and other educators can still deduct certain unreimbursed expenses on their tax return next year. > Here's how much
Did you receive unemployment this year?
Workers who received unemployment income, worked two jobs, or didn't work part of the year may want to file a new W-4 to make sure the IRS isn't withholding too much or too little from their paychecks. > Estimating is easy
Businesses
It's side income but is it a business?
Taxpayers must include income earned from hobbies on their tax return, but only businesses can deduct the expenses incurred while conducting business. The IRS has guidelines. > Is it a hobby or a business?
Questions about your business bookkeeping? Call our office at 505-984-0646 to schedule an appointment.
Tax & Accounting Solutions LLC | Info@TaxSolutions-NM.com | 505-984-0646 1225 S St Francis Dr Ste C, Santa Fe NM 87505
