Posts Tagged ‘Tax Update’

Many people are working from home during the COVID-19 pandemic. If you’re self-employed, you might be able to claim deductions for home office expenses against your business income—as long as you run your business from your home or perform certain functions there.

Recent federal legislation will allow borrowers of PPP loans to take a tax deduction for payroll and other tax-deductible expenses incurred and paid with PPP funds. Find out how.

If you’re a volunteer who works for charity, you may be entitled to some tax breaks if you itemize deductions on your tax return. Unfortunately, they may not amount to as much as you think your generosity is worth.