When an economic downturn happens, it can have a significant impact on people’s lives. Financial hardship caused by a recession can affect your ability to meet basic needs like housing, food, and fuel. We all know that bad times won’t last forever, but what can you do if you're facing financial
Teaching Your Kids To Save Money
There are plenty of people who believe that "saving" for the sake of "saving" is bad practice. Many have had grandparents that encourage spending while you're young. And while everyone situation is unique, the reality is learning to save money affords more opportunities.Yes, inflation is
Ways To Save During Inflation
Inflation is a continuous and prolonged increase in the general price of goods and services. As we're due for another recession, most people's standard of living decreases due to the rising costs of essential goods and services, such as food, housing, education, clothing, and healthcare -- gas
Types Of Deductible Expenses When Selling Your Home
When selling your house, you’ll likely incur various expenses. These costs are usually one-time, and in most cases, they’re not eligible for the home seller tax deduction. However, some of these expenses might be deductible if they meet the IRS rules concerning the sale of your home.Repairs and
Pets as Tax Deductible: What You Need to Know
Pets can be expensive, but some pet owners may be able to recoup some of those costs through the tax code. In many cases, pet ownership can be a personal expense for which the owner may qualify for a tax deduction. Understanding the nuances and restrictions of this deduction can help pet owners save
Inflation Is Not Getting Better Any Time Soon
Inflation is the increase in prices in an economy. In other words, it is a loss of purchasing power for money. It means that people need more money to buy the same things they were able to buy without issue previously. It is one of the reasons why people are not hopeful about the economy right now.
The IRS Is Finally Clearing The Backlog Of Tax Returns
2020 and 2021 were some of the most challenging years for the Internal Revenue Services (IRS). The pandemic caused many delays and resulted in a backlog of tax returns. Millions of taxpayers experienced a plethora of uncertainties, especially those who were getting refunds.During the first
Lockstep Launching A Smart Inbox for Accounting Teams
Lockstep is a startup company that's created a new product to connect accounting teams globally. The company (based in Seattle) has applications that automate accounts receivable and accounts payable workflows. The company improves cash flow and effectiveness to enable them to work better together.