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Tax savings from solar panels & other home improvements

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From,  Issue Number: Tax Tip 2023-68   Homeowners who make improvements like replacing old doors and windows, installing solar panels or upgrading a hot water heater may qualify for home energy tax credits. They should know what these credits can do for them – and be careful of exaggerated claims companies trying to get their…

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Emergency preparedness plans should include financial records

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From, Issue Number: Tax Tip 2023-69 People should put together an emergency preparedness plan for their household – and include copies of their vital records and financial information. By creating an emergency preparedness plan and updating it annually, people will be able to start the recovery process faster if they’re affected by a disaster…

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Hobby or business: here’s what to know about that side hustle

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From, Issue Number: Tax Tip 2023-61 Sometimes the line between having a hobby and running a business can be confusing, but knowing the difference is important because hobbies and businesses are treated differently when it’s time to file a tax return. The biggest difference between the two is that businesses operate to make a…

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