TaxAudit Blog

Tag: AGI

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What’s My Maximum Rental Loss Deduction?

Rentals are considered to be special passive activities and the amount of loss you can use in any year is limited to $25,000, if your AGI is under $100,000.

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Hand Sanitizer on table with masks in background

Can I Deduct the Cost of Hand Sanitizer for My Business?

Now that the pandemic is officially over, can I still deduct the cost of masks and hand sanitizer for my classroom or place of business? Let's find out.

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Can I Write Off Baby Expenses?

Yes, you can. Provided that the baby in question is your dependent, there is a whole host of tax benefits you can take advantage of to offset your expenses.

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