Individual Taxes

Why Is My Refund Smaller Than Expected This Year?

There are several common reasons why your tax refund might be smaller than you expected this year. Understanding these factors can help you make sense of the difference between your anticipated and actual refund amount.

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What Tax Forms Do Freelancers Need to File?

Freelancers, as self-employed individuals, have specific tax filing requirements that differ from traditional employees. Here’s a comprehensive guide to the tax forms freelancers need to file:

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Can I deduct expenses for caring for an elderly parent at home?

You may be able to deduct expenses for caring for an elderly parent at home if they qualify as your dependent and the expenses exceed 7.5% of your adjusted gross income; you might also qualify for the Dependent Care Credit or claim your parent as a dependent under certain conditions.

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Are legal fees deductible on my taxes?

Legal fees may be deductible if they are business-related, tax-related, or tied to rental properties. Personal legal fees, including divorce costs, are typically not deductible.

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