Day: June 24, 2026

The Internal Revenue Service announced that 27 states have elected to participate in the Federal Scholarship Tax Credit (FSTC) program, which enables eligible taxpayers to claim a federal tax credit for qualified contributions to Scholarship Granting Organizations (SGOs) providing scholarships for qualified elementary and secondary education expenses. In order to claim the tax credit of
-> Continue reading Federal Tax Credits for Contributions to Scholarship Granting Organizations

Many people have hobbies – things they enjoy doing in their spare time – and some even make a little extra money from them. But there’s a difference between a hobby and a business, especially in how each is treated when it comes to filing taxes. Businesses operate to make a profit while hobbies are
-> Continue reading Is Your Business a Business or a Hobby?