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So many people were happy they did not have to do the paperwork to itemize their deductions because of the increase of the federal standard deduction; not itemizing the deductions may cost you taxes on the Minnesota side!  Legislation was

If you NEED equipment or supplies buy them before the end of the year and you may be able to deduct the full amount in 2018! Notice that I said need, because it does not make sense to buy equipment that you do not need just to save money on

With the end of the year there are some other opportunities to consider for saving for your children and also saving on your taxes!  Consider a 529 College Savings Plan for your child!  This became tax deductible in the State of Minnesota in

Maybe is always the answer!  The personal exemption of $4,050 per person reducing taxable income is gone.   The good news is that the Child Tax Credit has increase from $1,000 – $2,000 for children under 17 years old!  Did you have too

The new “The Tax Cuts and Jobs Act of 2017 (TCJA)” is offering a potential huge tax savings benefit for many small business owners, however it is important that you understand you have to qualify for this deduction.  One of the requirements is