Are Hurricane Losses Tax Deductible?
Hurricane season is winding down and it looks like those of us in South Florida might be in the clear until 2020. But recently a client asked the following question:…
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After TCJA – Three Ways to Get Tax Benefits from Your Charitable Contributions
One of the major changes that were made to the tax code by the Tax Cuts and Jobs Act of 2017 was the expansion of the Standard Deduction to $12,000…
Watch Out For a $1,500 Tax Hike When Your Child Turns 17
Do you have a child who turns 17 in 2019? If so, you may be in for a tax hike next year. Why? Because the child tax credit ends the year…
The New 1040 Tax Form
While the new Form 1040 is smaller, the IRS has added six new numbered schedules that feed into this form. As a result, the new 1040 is in some…
New IRS Regulations Put an End to a Real Estate Strategy for Saving Taxes with Section 199A
Last December’s tax reform was billed as the Tax Cuts and Jobs Act, and to that end, small businesses received a valuable deduction with the idea that the tax savings…
What Can You Deduct on a Home Office?
As the gig economy grows and remote work become a bigger part of the US economy, more people are working from a home office. Deducting expenses for a home office…