Tips/News&Articles

Gift or Entertainment Deduction Which is it?

If you give gifts in the course of your trade or business, you can deduct all or part of the cost. Gift or Entertainment. Any item that might be considered either a gift or entertainment generally will be considered entertainment. However, if you give a customer packaged food or beverages you intend the customer to use at a later date, treat it as a gift.

Business Vehicle Tax Depreciation Changes

The IRS recently released the depreciation dollar limits for business vehicles placed in service in 2017.

Know the Rules for Home Sale Tax Savings

The home sale exclusion is one of the biggest and best tax breaks for individuals. The requirements to qualify are this:

Tax Break Ideas for the Summer

Although the forecast for tax reform is still uncertain, here are some tax-saving ideas for the upcoming summer months:

Tax Relief for Small Business Investors

Under the tax rules for qualified small business stock (QSBS), you can exclude 100% of the gain on the sale of the stock held more than five years.

Gifting (Transferring Assets) and Medicaid Penalties

If you’re considering transferring assets (including cash, giving gifts for holidays, weddings, birthdays or graduations); or if you plan to buy something for a friend or relative, or you want to gift to charities, be careful -- it could affect your Medicaid long-term care benefits.

Gift or Entertainment Deduction Which is it?

Business Vehicle Tax Depreciation Changes

Know the Rules for Home Sale Tax Savings

Tax Break Ideas for the Summer

Tax Relief for Small Business Investors

Gifting (Transferring Assets) and Medicaid Penalties

Reverse Mortgages How Do They Work?

Passports Denied Due to Unpaid Taxes

The Gift Tax, the Exclusion and the Lifetime Exemption

IRS Reminds Taxpayers Of April 1st RMD Deadline