Ken Berry is a nationally-known writer and editor specializing in tax, financial and retirement planning issues. During his long career, he has served as managing editor of a publisher of content-based marketing tools and vice president of an online continuing education company. As a freelance writer, Ken has authored thousands of articles for a wide variety of newsletters, magazines and other periodicals.
When you travel away from your home on business, you can deduct your gas and related expenses. But you generally can’t write off “commuting” expenses,...
If you operate a self-employed business from home, you may qualify for valuable tax-saving home office deductions. But using the computer in your home office for...
Let’s be clear about this: There is no substitute for accurate record-keeping. The IRS insists on it. But in a pinch, you still might have an ace up your sleeve....
Do you need someone to watch your young kids while you and your spouse work? There are usually several options for double-income couples to consider. Don’t...
Surprisingly, you may end up better off this year by having your corporation forgo a tax deduction. Strategy: Make this a “dividend year.” In other words,...
The IRS has issued new guidance on an important change for flexible spending accounts (FSAs) beginning in 2013. A $2,500 cap will apply to contributions made to ...
The IRS is making it easier to realize tax benefits for temporary local lodging costs. New proposed regulations allow employees to deduct local lodging expenses that...
Suppose your spouse’s car was damaged when he or she skidded on a wet road in April. It cost $3,000 out-of-pocket to repair. But you won’t be able to...
The tax law generally limits the annual amount you can deduct for depreciation of so-called “luxury cars.” Strategy: Buy a heavy-duty sports utility vehicle...
A small business can often recover the entire cost of qualified business assets in just one year, thanks to the generous Section 179 deduction. But there a few key...
Are you planning to sell or donate a boat or car to charity? Don't be too hasty. Arrange a “bargain sale” to a qualified charitable organization. By...
There’s more hope for taxpayers who have to pay the tax bill of an estranged spouse through no fault of their own. The IRS has issued a Notice proposing a new...
It’s bad enough that you have to pay Social Security taxes while you’re working, but you could also get hit with federal income tax on Social Security...
Are you holding onto any stocks that are worthless? If so, you may be able to salvage some tax relief on your 2011 return. Strategy: Claim a capital loss deduction for...
