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Tax Savings

Tax deduction for moving costs: 2017 vs. 2018

Income Tax, Individual Income Tax, Moving Expenses, Tax Savings /

If you moved for work-related reasons in 2017, you might be able to deduct some of the costs on your 2017 return — even if you don’t itemize deductions. (Or, if your employer reimbursed you for moving expenses, that reimbursement might be excludable from your income.) The bad news is that, if you move in […]

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Tax credit for hiring from certain “target groups” can provide substantial tax savings

Business Credit, Income Tax, Small Business, Tax Credits, Tax Savings, WOTC /

Many businesses hired in 2017, and more are planning to hire in 2018. If you’re among them and your hires include members of a “target group,” you may be eligible for the Work Opportunity tax credit (WOTC). If you made qualifying hires in 2017 and obtained proper certification, you can claim the WOTC on your 2017 tax

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