(#299) Can You Claim Your Elderly Parent as a Dependent on your Tax Return?
Perhaps. It depends on several factors, such as your parent’s income and how much financial support you provided. If you qualify for the adult-dependent […]
(#298) Casualty Losses Can Provide a 2017 Deduction, But Rules Tighten for 2018
If you suffered damage to your home or personal property last year, you may be able to deduct these “casualty” losses on your […]
(#297) Is Your Personal Data Safe in the Hands of Corporations?
The Facebook scandal involving personal data mishandled by Cambridge Analytica has raised concerns over the privacy of the information we share on our social media accounts.
(#296) TCJA Provides AMT Relief
As posted by Thomson Reuters on 2/20/18
Although it was hoped […]
(#294) Home-Related Tax Breaks are Valuable on 2017 Returns . . . Less So for 2018
Home ownership is a key element of the American dream for many, and the U.S. tax code includes many tax breaks that help […]
(#293) §179 Expensing Provides Small Businesses Tax Savings on 2017 Returns, And In The Future
If you purchased qualifying property by 12/31/17, you may be able to take advantage of §179 expensing on your 2017 tax return. You’ll also want to keep […]
(#292) Defer Tax with a §1031 Exchange, But New Limits Apply This Year
Normally when appreciated business assets such as real estate are sold, tax is owed on the appreciation. But there’s a way to defer […]
(#291) Haven’t Filed Your 2017 Income Tax Return Yet? Beware of These Pitfalls
The federal income tax filing deadline is slightly later than usual this year — April 17 — but it’s now nearly upon us. So, if you haven’t […]
