The Short Answer: Generally, No. Homeowners Association (HOA) fees are typically not tax-deductible. This is because the IRS generally considers HOA fees as personal expenses rather than business or investment expenses. Why Aren’t HOA Fees Tax-Deductible? HOA fees often cover a variety of
EV Tax Credit: A Green Light for Electric Vehicles
The electric vehicle (EV) revolution is gaining momentum, and the recent passage of the Inflation Reduction Act has provided a significant boost. This landmark legislation includes provisions to extend and expand the federal EV tax credit, making it easier for consumers to transition to electric
Hawaii Housing Authority’s Eminent Domain Power: A Closer Look
The Myth of Governmental Morality A common misconception is that governments adhere to the same moral standards as individuals. However, governmental morality operates on a different principle: reason. While individual morality is rooted in reciprocity, government actions are justified by
Jacob & Youngs v Kent: What’s a Little Breach of Contract between Friends?
"If I let my lawyer tell me what I could do for my business, I wouldn't have a business." While this entrepreneurial spirit is admirable, it’s essential to balance it with a strong understanding of contract law. A well-drafted contract can protect your business interests, while a poorly written
Can You Deduct Marriage Counseling on Your Taxes?
The Short Answer: Generally, No. While the idea of deducting marriage counseling expenses on your taxes might seem appealing, the reality is often more complex. The Internal Revenue Service (IRS) has specific rules regarding what qualifies as a deductible medical expense, and unfortunately,
Hawkins v McGee: The Case Every Doctor Should Know About
Every medical operation, no matter how familiar or routine it may be, carries a level of risk. There is always a chance that an operation will fail to produce its desired result. What’s more, there is always a possibility that a patient will suffer negative consequences from the operation. The case
Accountants and the Skills Gap
The accounting profession is facing a significant skills gap, driven by a combination of factors: Increased Demand: The complexity of modern businesses, coupled with regulatory changes and technological advancements, has led to a surge in demand for accounting services. This is in part due to
Can a Country Club be Deducted as a Business Expense?
When filing taxes, understanding which expenses are eligible for deduction is crucial. While country club memberships are generally not deductible, certain elements within a membership might qualify. General Deductibility Rules: Specific Deductible Expenses & Considerations: If you