If you’ve done your own taxes or hired an accountant, you’ll no doubt be familiar with the term itemized deductions. The strategy involves using specific expenses that can be subtracted…
While the 2023 tax filing season is underway, we believe that it’s prudent to know about the tax changes in 2024 that have already been implemented. At Tuffy & Associates,…
The IRS officially kicked off the 2024 tax season in late January by announcing that it is expanding the filing options for taxpayers. At Tuffy & Associates, we are here…
As the year draws to a close, here at Tuffy & Associates we are thinking about all the ways that our clients can save money. With that in mind, here…
If you are trying to decide between buying or leasing your vehicle, you might be wondering, which option is best and what provides the most tax savings? The Difference between…
If you have your own business, one of the smartest tax moves you can make is to hire your spouse to work as your employee. Here are 5 things you…
Most people have heard of flexible spending accounts that are typically used to pay for healthcare costs like deductibles, copayments, coinsurance, and some drugs, but have you heard about Health…
As a business owner, you are no doubt aware of the complexities of handling payroll, HR issues and other matters as you expand and employ additional workers. At Tuffy &…
There is a lot of talk these days about the Employee Retention Credit, originally established by Congress as part of The Coronavirus Aid, Relief, and Economic Security (CARES) Act to…
The Inflation Reduction Act of 2022 extends and expands energy tax credits that will make your home more efficient, but what exactly does this mean for you? Here at Tuffy…