by Arthur Geffen | Mar 11, 2019 | Deductions
Tax deductions and credits reduce the amount you owe the government, possibly resulting in a larger tax refund or a smaller tax bill. You don’t want to leave any money on the table, and careful planning combined with studying up on deductions and credits...
by Arthur Geffen | Aug 28, 2018 | Deductions, Gifts
The 2017 Tax Act, passed into law in December, is one of the most complicated new laws in tax history. In addition to changes that affect individuals and businesses, there are also noteworthy changes that will impact charitable giving. Smart Business spoke with...
by Arthur Geffen | May 14, 2018 | Deductions, Income Tax, Pets
Here is a list of six potential tax deductions (or changes under the new law) for pet owners. ADVERTISEMENT 1. Business animals There may be deductions available for business animals if the animal lives at the trade or business. For example, dogs that work as a...
by Arthur Geffen | Dec 19, 2017 | Deductions, Income Tax
Under the tax bill, a $10,000 deduction limit would be applied to the combined value of property taxes and state and local income taxes. The legislation also would forbid a taxpayer from prepaying part of those expenses this year, which would have been a way to...
by Arthur Geffen | Jan 25, 2016 | Deductions
Current and prospective homeowners can make big savings via real estate tax deductions if they handle it right upon closing the deal. Real estate consultant Marian Schaffer, principal and founder of Southeast Discovery, which specializes in helping Baby Boomers...
by Arthur Geffen | Mar 7, 2014 | Deductions, Income Tax
WASHINGTON — The Internal Revenue Service today reminded people with home-based businesses that this year for the first time they can choose a new simplified option for claiming the deduction for business use of a home. In tax year 2011, the most recent year for which...
