Resources

Tax resources, tax law changes, and analysis.
Helpful tips to avoid common mistakes.

Latest Published Resources

What’s New for Business Taxes?

Before filing taxes this tax season, it’s important for business owners to know what’s new for business taxes for 2023 and take advantage of the available deductions and credits. While some tax deductions are drawing…

Should I buy a property now?

Should I buy a real estate property now? Many don't see the current market with high interest rates and high prices appropriate time to buy. However, waiting for lower interest rate and lower prices may…

Startup Costs: Write-off for your business

The rules for startup costs differ from expenses for operating your business. The IRS specifies what startup costs are, how much you can deduct in the first year, when they are deductible, and how they…

Backdoor Roth IRA: What is it?

Roth IRA income limits to contribute are $144,000 for single filers and $214,000 for married filing jointly filers for 2022. Backdoor Roth IRAs allow individuals with earnings above these thresholds to contribute to a Roth…

Child Tax Credit: Are you eligible?

You can claim the child tax credit if your children meet specific criteria. Depending on your income, you may be able to claim the maximum amount. Moreover, you might be eligible for additional credit if…

IRA Plans: Traditional IRA vs. Roth IRA

Traditional and Roth IRA plans are used to secure funds for retirement. They have similarities and differences, mainly in their contribution and distribution rules. Generally, the account best for you in retirement depends on your…

Latest published resources by category

Should I buy a property now?

Backdoor Roth IRA: What is it?

Child Tax Credit: Are you eligible?

What’s New for Business Taxes?

Startup Costs: Write-off for your business

Business interest expense: Is it Deductible?

Logo DuPage Tax Solutions

To schedule a free consultation