Certified Public Accountant specializing in personal, non-profit and forensic accounting and tax preparation
Tax reform changed the rules of the game when choosing your best tax structure. In looking over the possibilities, a properly structured spousal partnership could be your best choice. Here are the tax benefits to you: Your spouse’s income is free from self-employment tax. You and your spouse both still qualify for the new pass-through…
The new and improved Section 179 deduction gives you more ways to take advantage of immediate tax deductions. It’s somewhat like having a flexible tax shelter in your back pocket for when you need it (and also need the property, of course). As in years past, the Section 179 deduction is available for both new…
Tax reform put the screws to your state and local income tax deductions, capping them at $10,000. Many states disliked that and have been putting together workarounds. But now the IRS is creating regulations to put the kibosh on your state’s creative plans. Unless federal lawmakers change their minds, your federal deductions for state income…
You can plan your tax-deductible business life to avoid cold winters and hot summers. Spend a moment examining the following four short paragraphs that contain the basic facts from the Andrews case. For six months of the year, from May through October, Edward Andrews lived in Lynnfield, Massachusetts, where he owned and operated Andrews Gunite…
