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Tag Archives: expenses

Tax Guy: When can I deduct business meal and entertainment expenses under current tax rules?

The federal income tax treatment of business-related meal and entertainment expenses has been a moving target. If you’re confused about what rules currently apply, I don’t blame you. This column aims to eliminate confusion. That’s an optimistic goal, but here goes. A 2020 COVID-19 relief bill made taxpayer-friendly changes A …

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Help Me Retire: I’m 60, my spouse is 45 — can I retire if our expenses are $12,000 a month?

Hello, I have read a few of your HelpMeRetire inquiries, and I have a situation that I can’t seem to find much information about when I read retirement planning guides. I am 60 years old, and my spouse is 45. Currently, we both make over $ 300,000, and he is …

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The Moneyist: My sister moved from New York to our mom’s house due to COVID-19. She saved $11K in rent and expenses. Is that fair?

Dear Moneyist, My sister gave up her apartment in New York City and moved back home in April, shortly after COVID-19 erupted there, and has now been living rent-free with my mother for the past seven months. My sister is 42 years old and holds a full-time job with a …

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The Moneyist: My husband died from COVID-19. Will the IRS allow me to use his $1,200 stimulus check for funeral and medical expenses?

Dear Moneyist, My husband and I filed a joint income-tax return. I am aware that the stimulus check for a husband and wife is $ 2,400, and it will likely be one check. Unfortunately, my husband passed away on April 12 from COVID-19, and I have not yet received our …

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