Karla L Justice CPA, PC

07/15/2025

https://www.kiplinger.com/taxes/tax-deduction-change-for-those-over-65

Adjustments to the extra standard deduction can impact the tax bills of millions of older adults.

02/10/2025

If you’re a self-employed individual, you can deduct your “ordinary and necessary” business expenses, just like the corporate giants do. However, you’re also held to the same strict substantiation rules.

02/04/2025

Scammers impersonating the IRS are texting taxpayers leading them to believe they're going to receive an economic impact payment, also known as a recovery rebate credit, but it's a scheme to steal their personal data, TIGTA said on Jan. 28.

02/04/2025

Tax credits are usually a direct subtraction of what you owe, and can sometimes come back to you in your refund. A tax deduction generally reduces what your taxable income is. In this article, we're looking at the Top 10 tax credits and deductions, if you qualify!

01/02/2025

The hacker was able to remotely access certain Treasury workstations and “certain unclassified documents maintained by those users,” according to a letter the agency sent to Congress on Dec. 30.

12/27/2024

The optional standard mileage rate for automobiles driven for business will increase by 3 cents in 2025, while the mileage rates for vehicles used for other purposes will remain unchanged from 2024.

12/27/2024

The Internal Revenue Service has announced plans to issue automatic payments later this month to eligible people who did not claim the Recovery Rebate Credit on their 2021 tax returns.

12/23/2024

The average U.S. household spends more than $70,000 on housing, meals, transportation, health care and more. How does your household compare?

10/31/2024

While the actual percentages will remain the same, the income levels of each bracket change annually to adjust to inflation.

07/22/2024

The agency has seen an influx of claims for the non-existent "self-employment tax credit," which is being promoted on social media.