Hiring your children to work in your business can be a win-win situation for everyone. Your kids will earn money, gain real-life experience in the workplace, and learn what you do every day. And, you will reap a few tax benefits in the process. Before you decide if hiring your child is the right thing […]
Deductions
You don’t have to itemize to claim these deductions on your 2016 return
Can’t itemize? You can still claim some expenses on your 2016 federal income tax return. Here’s how you can benefit. * IRA and HSA contributions If you made a contribution to your traditional IRA for 2016, or if you plan to make a 2016 contribution by April 18, 2017, you may qualify to deduct up […]