Ascend Tax & Accounting

02/05/2022

Learn about business from your friends at Tucson based ASCEND Tax & Accounting.

02/04/2022

For those who love learning: here's a tax fact from ASCEND Tax & Accounting.

02/03/2022

If you are engaged in an activity that produces income, the big tax question is whether the activity is a hobby or a business. If a hobby, losses are not tax deductible. The IRS has guidelines for determining whether an activity is carried on for profit, such as a business or investment activity, or if it is a hobby.

If you are engaged in an activity that produces income, the big tax question is whether the activity is a hobby or a business. The tax treatment of your income or loss from this endeavor hinges on the answer. The tax code (Section 183 – the so-called “hobby loss rule”) limits deductions when a...

02/02/2022

Here is some midweek Wednesday Wisdom inspiration from your friends at ASCEND Tax & Accounting

02/01/2022

If you have a child or children in college, or perhaps you or your spouse is a student, it can be confusing to figure out which of two potential education tax credits (1) you are eligible for and (2) gives you the greater tax benefit.

If you have a child or children in college, or perhaps you or your spouse is a student, it can be confusing to figure out which of two potential education tax credits (1) you are eligible for and (2) gives you the greater tax benefit. This article looks at some of the twists and turns of these credi...

01/31/2022

Get ready for the week: ASCEND Tax & Accounting has motivation for your Monday.

01/31/2022

Taxpayers who adopted or started the adoption process in 2021 may qualify for the adoption credit. Watch this video for details.

01/29/2022

Your Saturday from Tucson based ASCEND Tax & Accounting.

01/28/2022

Here's your tax fact of the week from your friends at ASCEND Tax & Accounting.

01/27/2022

If you borrow money, will the interest you pay be tax deductible? The answer to that question can be complicated, and unfortunately, not all interest an individual pays is deductible. Whether or not the interest can be deducted depends on what the loan proceeds are used for.

If you borrow money will the interest you pay be deductible for income tax purposes? The answer to that question can be complicated, and unfortunately, not all the interest an individual pays is tax-deductible. The rules for deducting interest vary, and essentially depend on what the loan proceeds a...

01/26/2022

Here are the February 2022 business tax due dates

Here are the February 2022 Business Due Dates.

01/26/2022

Wednesday Wisdom and ASCEND Tax & Accounting = Success