Turn Your Home Office Into a Tax Deduction

Posted on 18. Feb, 2021 by in IRS, Small Business Tips, Tax Tips

If you worked from home for the first time in 2020, you may be wondering if your home office is tax deductible. The bad news? If you’re working from home for an employer, you normally can’t deduct your home office expenses. Here’s a quick look at the basic requirements to be able to deduct your […]

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Alert: Expired Tax Breaks Revived for 2017

Posted on 19. Mar, 2018 by in Bookkeeping Articles, Small Business Tips, Tax Updates

Congress passed a federal budget bill in early February that revived many expired tax breaks for the 2017 tax year. They include a deduction for education expenses as well as several tax breaks for homeowners. If you have not yet filed your 2017 tax return, please be aware these changes are retroactive to the beginning […]

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Donate Stock to Lower Your Tax Burden

Posted on 26. Jun, 2017 by in Bookkeeping Articles, Small Business Tips, Tax Updates

With U.S. equity valuations near historically high levels, now may be an opportune time to take advantage of the tax benefits of donating long-term appreciated stock to a qualified charity. Directly donating a winning stock you’ve held for at least one year provides greater tax benefits than writing a check to your favorite cause. Higher […]

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