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how fix to your tax return

How to Fix Your Personal Tax Return! Step by Step Guide

Amending your personal income tax return may seem overwhelming, but it’s a manageable process when you break it down step by step. In this guide, I’ll walk you through how to correct your return using IRS Form 1040-X. Step 1:…

bookkeeping manually 101

How to Do Bookkeeping Manually (Without Software!)

Requirements to Get Started with Bookkeeping Manually So, to get started with Bookkeeping Manually (without software), we have just two requirements. They are: #1 – First, you must have a bank account that is used exclusively for business income and…

Mileage Tax Deduction

How To Calculate The Mileage Tax Deduction!

Understanding the Mileage Deduction That Can Make a Big Difference on Your Tax Return Do you know how to calculate the mileage deduction that will make that big break on your tax return? In this blog post, I am going…

How to Calculate the Home Office Deduction!

How to Calculate the Home Office Deduction!

Today we are going to dive into a very popular topic amongst those who work at home. It’s How to Calculate the Home Office Deduction. Many of my clients had lots of issues with calculating this deduction this past tax…

What is the American Opportunity Tax Credit?

What is the American Opportunity Tax Credit (AOTC)?

Think of the American Opportunity Tax Credit (AOTC) as a little “thank you” from the government for investing in education. It helps students (or their parents) save on taxes by covering some college costs. Here’s how it works: You can…

Electric Vehicle 2025 Tax Credits

Is it Still Worth it to Buy an Electric Vehicle in 2025?

Thinking About Going Electric in 2025? Here’s What You Need to Know! If you’re considering switching to an electric vehicle (EV) in 2025, you’re probably wondering how the federal EV tax credit works and whether it’s still a smart financial…

never pay irs taxes again

6 Investment Strategies Designed to Save Money on Taxes

Are you investing to build a more secure future for yourself and your family? Are you looking to minimize the taxes you pay on those investments? If so, you are in the right place. In this article, I will share…

understanding section 121 exclusion capital gains tax

Understanding Capital Gains Exclusion on the Sale of a Home

Are you planning on selling your home, or have you already sold your home this past year and you’re wondering whether you will owe the IRS taxes? If so, you are in the right place. In this video, I’m going…

insider tips for tax preparation

How to Make Tax Season Organization Easier

If you’ve ever felt overwhelmed by all the forms, statements, deadlines, bookkeeping, and receipts involved in filing taxes, don’t worry — I’m here to simplify all of it for you step by step. My name’s Sonia Narvaez and today I’m…

last minute tax tips

Last Minute Tax Savings Tips for Schedule C Filers

2024 is almost over, but it’s not too late to tax plan and decrease your taxes for the 2024 tax season. Hello, my name is Sonia Narvaez, and if you’re a freelancer or small business owner who files a Schedule…

common accountant questions

Top 5 Most Frequently Asked Questions to a CPA

Today, we’re diving into the most frequently asked questions about accounting, tax planning, and financial advice! Whether you’re a small business owner, freelancer, or just trying to make sense of your personal finances, these are questions you’re probably wondering about….

How to Sell Your Home Tax Free
How to Sell Your Home Tax Free

How to Sell Your Home Tax Free

  • May 1, 2025
  • by Accounting Team
  • No Comments

If you lived in your home two years out of the last five years, Section 121 allow you to exempt $250,00 for single individuals and a whopping $500,00 if you are married on capital gains when you sell your home….