Heed The Rules For Deducting Charitable Contributions
Sticking to the rules when making charitable contributions can save tax dollars. Here are three tips. Recordkeeping is vital if you want to be able to deduct a contribution to charity. What records do...
View ArticleTax Tip Tuesday! Exclusions and Deductions: Both Play A Role In Tax Planning
When you hear the term “tax expenditure,” you probably think of the amount of tax you pay with your return. But from a tax collection point of view, tax expenditures are items that reduce tax...
View ArticleWhat's New: Take Advantage Of Expiring Tax Breaks
A number of tax breaks are due to expire at the end of this year. Though Congress may renew some or all of them, there is no way of knowing if or when they will. As part of your year-end 2011 tax...
View ArticleTax Tip Tuesday: Recordkeeping Is Required For "Listed" Property
You may be more familiar with the term “listed property” in the context of real estate, but the term also applies to some business assets — and affects the records you need to take deductions for those...
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What You Should Know About The Sales Tax Deduction
The sales tax deduction is available for 2011 tax returns. Here are answers to your questions regarding this deduction. Q. Can I deduct my sales taxes? A. You’re allowed to deduct either your sales...
View ArticleNew Business: IRS Announces Business Mileage Rate For 2012
The IRS recently announced that the mileage rate for business driving in 2012 will be 55.5¢ a mile. The rate can be used for cars, vans, pickups, and panel trucks. Companies that don’t want to keep...
View ArticleResolution 2012: Put Your Tax And Financial House In Order
The only effective way to control and conquer your tax and financial issues is to review them throughout the year. And what better way to kick off the new year than to tidy up your financial and tax...
View ArticleHow To Be "Audit Ready"
No one likes to see a policeman’s flashing lights in the rearview mirror, and no one likes to receive a phone call or letter from the dreaded auditor. But if you operate a business or your organization...
View ArticleNew Business: Many Small Businesses Fail To Take This Tax Credit
Health care legislation passed in 2010 included a tax credit for small businesses that provided health care coverage for their employees. Recent surveys have shown that the majority of small companies...
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Vacation Homes: What Are The Tax Rules?
If you own a home that is available for both personal and rental use, you have what is commonly known as a vacation home. Vacation homes are a hybrid: they are not purely rental properties, nor are...
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