Tag: Benefit (page 1 of 2)

2025 Retirement Contribution Limits

Opportunity Tax Credit

Should I Contribute to a HSA?

2025 Standard Deductions

IRA Contribution Limits for 2024

Coverdell ESA

Educator Expense Deduction

Tax Credits for Home Solar Panel Systems

If you installed a solar panel system or another type of renewable energy system during 2023 to your home, you may be eligible for a tax credit which would be equal to around 30% of the total cost of installation.

Tax Credit for EV

If you purchased a new qualified plug-in electric vehicle that is less than 4,000 pounds and has a battery of at least 4 kilowatt-hours, you may be eligible for a tax credit up to $7,500 per vehicle!

Moving Expenses can be Deductible

If you are moving due to Job relocation, you can deduct moving expenses.

In order to deduct moving expenses, your move must meet three requirements:

  • The move must closely relate to the start of work
  • Your move must meet the distance test
  • You must meet the time test

After meeting these requirements, the #IRS has plenty of tips to show you what expenses are deductible.

For more information click here. Be sure to update your address with the IRS and Post Office.

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