Tag Archives: tax deduction

Donating a Car to Charity

bigstock--199113232If you donated a car to a qualified charitable organization in 2017 and intend to claim a deduction, you should be aware of the special rules that apply to vehicle donations. Continue reading

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Five Tax Breaks that Survived Tax Reform

Businessman running away from tax, Cartoon vectorRecent tax reform legislation affected many provisions in the tax code. Many were modified, either permanently or temporarily, while some were repealed entirely. Here are five that survived. Continue reading

Tax Deductions for Educators

Portrait of smiling teacher standing with hands on hip in drawing classWith the fall semester of the school year well underway teachers, administrators and aides should not forget to keep track of education-related expenses that could help reduce their taxes when they file their returns next spring. With that in mind, let’s take a look at three key work-related tax benefits that are available to educators. Continue reading

Tax-Saving Strategies that Reduce your Tax Liability

Dollar bills in glass jar on rustic table. Saving money concept.If you’re looking to save money on your taxes this year, consider using one or more of these tax-saving strategies to reduce your income, lower your tax bracket, and minimize your tax bill. Continue reading

The Simplified Option for Home Office Deduction

Man sat at a computerIf you’re one of the more than 3.4 million taxpayers who claimed deductions for business use of a home (commonly referred to as the home office deduction)–but haven’t taken advantage of it because you thought it was too complicated–then you might be interested in the simplified option. Continue reading

It’s Not Too Late to Make a 2016 IRA Contribution

bigstock--155898923.jpgIf you haven’t contributed funds to an Individual Retirement Arrangement (IRA) for tax year 2016, or if you’ve put in less than the maximum allowed, you still have time to do so. You can contribute to either a traditional or Roth IRA until the April 18th due date, not including extensions. Continue reading