The Daily Deduction

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Tax Programs & Where the Money Goes.. Explained

In this season of giving thanks, we want to show our appreciation for you and the taxes that fund the programs, departments, and the liberties that we have each and every day. So here it is for your holiday reading: the benefits of taxes and where everything goes.

Posted To: The Daily Deduction
By: Lauryn on 11/24/2014 04:18:36 PM

4 Million People Are Unaware that Health Insurance is Mandatory

Despite all the buzz about the Affordable Care Act, millions are still left in the dark about how Obamacare could affect their lives, their finances, and their taxes.

Posted To: The Daily Deduction
By: Lauryn on 11/24/2014 01:40:00 AM

Tax Benefits for Soldiers and Veterans: Let Us Serve You

If you’ve ever had a family member serve in the armed services, you probably know the financial struggle and hardship that can be incurred for the service member and their family. Thankfully, the government and IRS have a series of tax credits and deductions to help those who defend our liberty. 

Posted To: The Daily Deduction
By: Lauryn on 11/11/2014 04:30:00 AM

Cost of Living Higher Than Your Pay? Roommates are the Solution for Almost A Third of American Adults.

Although talks of recession recovery have cast a positive light on the economy, the cost of consumer goods, services, and living expenses still continues to edge out take-home pay.

Posted To: The Daily Deduction
By: Lauryn on 11/6/2014 01:27:47 PM

5 Perfectly Acceptable Ways to Deduct Fall Flavors from Your Taxes In January

What seems like a small $4.65 expense once a week can quickly add up to $18.60 by the end of the month! Lucky for individuals who incorporate fall flavors into their business or their charitable deeds, they can experience fall and deduct the expenses from their taxes when they file this upcoming winter. The Daily Deduction takes a look at specific situations where fall flavors are a bonus for your bottom line.

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By: Lauryn on 11/3/2014 02:19:39 PM

I Think That I am in A Higher Tax Bracket for 2014. How Can I Avoid Paying More Taxes?

First and foremost, it’s not always a bad thing to be in a higher tax bracket. It means you made more money. If you know you made significantly more money this year than you did last year, you may pay more income tax than you estimated.

Posted To: The Daily Deduction
By: lescobar on 11/1/2014 10:45:00 AM

Don’t Fall Victim to 2014 Identity Theft and Tax Scam Nightmares

As your tax knowledge resource, we want you to be aware of the current scams and how criminals are currently attempting to break or defeat the system. Arming yourself with knowledge can help you look for the warning signs of fraud and take action. The Daily Deduction gives an overview of the top scams for of 2014.

Posted To: The Daily Deduction
By: Lauryn on 10/31/2014 02:45:00 AM

‘Tis the Season for Credit Card Data Breaches - Staples Announces Investigation

Another large retailer launched an investigation of a possible breach of customers’ payment card data. On Tuesday, Staples announced that the retailer contacted law enforcement to launch a data breach investigation after a security report tied instances of fraud to Staples stores in the northeast. The announcement comes, ironically, as National Cybersecurity Awareness Month draws to a close.

Posted To: The Daily Deduction
By: Lauryn on 10/23/2014 01:11:17 PM

Long Term Financial Planning for Millennials:The Savers Tax Credit

According to the survey, over half of millennials have not started saving for retirement. This conclusion from the survey speaks more volumes about the economic crisis of the generation more so than the personal finance priorities of the current young adult generation.

Posted To: The Daily Deduction
By: Lauryn on 10/13/2014 01:32:12 PM

This Weekend: Save up to $150 on Appliances in Virginia

If you’re in the market for a common home appliance, it’s a great weekend to buy it in the Commonwealth of Virginia.  If the appliance you’ve had your eye has a retail price of $2,500 or less and has the Energy Star® or WaterSense® label on it, you could avoid sales tax on your purchase this weekend. The Virginia Sales Tax holiday (where select products are exempt from sales tax) begins at 12:01 AM on October 10 and lasts until 11:59 PM on October 13.  Tax exempt purchases are limited to consumer use only (sorry, landlords, contractors, and salons, this tax holiday isn’t for you.)

Posted To: The Daily Deduction
By: Lauryn on 10/9/2014 12:35:00 AM

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