I’m often asked by nervous new business owners if they can recover a tax refund for a business loss. Receiving a tax benefit from a business loss depends on the type of entity formed and whether the investment in the business…
Taxpayers that itemize personal deductions instead of claiming the standard deduction may deduct qualifying medical expenses to the extent that such expenses exceed 10 percent of adjusted gross income (“AGI”). Taxpayers that are 65 years or older, or turned 65 during the tax year,…