Check up on medical deduction

  • February 21, 2018

Although the Tax Cuts and Jobs Act notoriously cuts back certain deductions and wipes out others, it actually liberalizes the medical expense deduction for 2017 and 2018.

Last chance for 6 deductions

  • February 20, 2018

This may be the last year you get the full tax benefit of certain tax deductions, thanks to the Tax Cuts and Jobs Act.

Records needed for business travel

  • February 15, 2018

The IRS is tough on deductions for travel expenses. Without the proper records to back up your claims, it might reduce or completely deny your write-offs. And it usually...

Spotlight 15 personal tax changes

  • January 23, 2018

The Tax Cuts and Jobs Act enhances and creates numerous tax breaks for individual taxpayers, but repeals or scales back a slew of others. It’s going to take time to...

Medical deduction denied

  • January 18, 2018

Medical expenses must be incurred primarily to alleviate or prevent a physical or mental defect or illness. They don’t include costs that are simply beneficial to your...

2018 Tax Calendar

  • December 07, 2017

Keep this tax calendar handy for reference, when needed, during the year.

Sidestep this installment sale trap

  • November 24, 2017

If you’re looking to sell real estate, you may have to structure the deal to make it acceptable to the buyer. But this could work to your tax advantage.

Keeping corporate identity in PowerPoint

  • November 06, 2017

Using a PowerPoint theme that consistently applies elements from your branding to each slide makes presentation creation easy. Here are some tips for setting up a good...

Prove your gambling losses

  • October 19, 2017

Frequently, gambling loss deductions are denied because taxpayers fail to keep the records required for write-offs. In a pinch, you might resort to the “Cohan...

U.S. Savings Bonds: A tax education

  • October 12, 2017

Areader recently wrote us about a tax dilemma. “We bought U.S. Savings Bonds for my daughter when she was born and she also received Series EE Bonds as gifts. Now...

Set up for 2018 success in Outlook

  • October 03, 2017

With the year-end and holiday season looming for almost everyone, the time to start thinking about setting yourself up for success is now.

Park property in like-kind exchange

  • September 19, 2017

Pulling off a like-kind exchange under Section 1031 is often easier said than done. Usually, the owner of property you have your eyes on isn’t interested in any...

3 good ideas for bad debts

  • September 14, 2017

Are you having trouble collecting money for goods or services your business has provided? Consider these three strategies for securing bad-debt deductions.