Finance Tips and Notes

Some taxpayers with simple tax returns may not have to worry about tax deduction limits. However, most taxpayers will have tax deductions that will require them to know what the tax deduction limits are so that they can claim the most deduction on their tax returns. After all, the more tax deductions they can claim, the less taxes they will owe the IRS.

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Small business taxes can be substantially decreased with proper planning. For example, I have started a home based travel business. As a tax accountant I know that, through proper structuring, I can now deduct our family vacations.

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Debit cards are associated with checking accounts. Consumers can use them as credit cards if they contain a Visa or MasterCard logo on them. They don’t incur fees like a credit card does because they are backed by the amount of money in the account. With that said, are debit cards as good a choice as they seem?

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