Lisa Marie Brugman, EAAre credit card fees tax-deductible? It depends on how the card is used. Personal credit card fees aren’t deductible, but business-related fees may qualify—if they’re tied to ordinary and necessary business expenses. This guide breaks down what counts, what doesn’t, and how to protect your deductions.
Lisa Marie Brugman, EACan you deduct unpaid invoices? It depends on your accounting method. Cash-basis businesses generally can’t deduct income they never received, while accrual-based businesses may qualify for a bad debt deduction—if the debt is truly worthless and properly documented. This guide explains the difference so you can avoid mistakes and stay compliant.
Lisa Marie Brugman, EAIf you’ve ever claimed a home-office deduction, chances are you’ve heard the horror stories about depreciation recapture. And if you haven’t heard them directly, you’ve probably absorbed the fear indirectly through tax blogs, Facebook groups, or a well-meaning friend who “read something once."
Lisa Marie Brugman, EATrying to figure out whether your IRA contribution is deductible? This guide breaks down the latest MAGI limits, income phase-outs, employer plan rules, and contribution caps — with clear examples to help you understand exactly what you can contribute and deduct.