Yearly Archives

  • Tax Tips for Deducting Charity Gifts

    Holiday season encourages charitable giving. If you give a gift to your favorite charity and want to claim it as a tax deduction, consider these tips before you make a donation. Give to qualified charities. Gifts that are given to charities that aren’t qualified cannot be deducted from your taxes. Gifts that are given to […]

  • IRS Raises Tangible Property Expensing Threshold

    A recent IRS announcement stated that it will raise the deductible amount from $500 to $2,500 for purchases of tangible property by taxpayers without applicable financial statements. After receiving more than 150 comments advocating that the limit on deductions for purchases of property should be raised to anywhere between $750 and $100,000, the IRS made […]

  • Tax Tips for Retirees

    When you turn 65, the way you file taxes changes. Consequently, it may not be a bad idea to brush up tax policy to see how you can benefit from tax issues brought on from Social Security and IRA withdraws. Here are some tax filing basics that are increasingly important the closer you get to […]

  • Budget Deal Could Cost Couples Big Money in Social Security Benefits

    There is a budget deal moving quickly through Congress that would put an end to a monetarily successful strategy for couples known as “file-and-suspend”. This strategy is a loop-hole of sorts that can boost lifetime Social Security retirement benefits by hundreds of thousands of dollars. The tactic is executed when the higher-earning spouse files for […]

  • A Guide to DOL Proposed Overtime Rule Changes

    By now, you have probably heard some piece of information surrounding the Department of Labor’s (DOL) proposed overtime rule changes. While the DOL’s comment period ended on September 4, several sources seem to indicate a high likelihood that a final rule could be issued either late this year, or very early in 2016. To help […]

  • Mastering Any Conference

    Participating in industry conferences can either feel energizing or exhausting, depending on your approach. Conferences present an exciting opportunity to meet new people, keep up with hot topics, and find out about new ideas within your field. To get the most out of conferences, try some of these practical tips. By taking on a new […]

  • How to Properly Document Charitable Contributions for Income Tax Deductions

    One of the most frequent questions posed to us by our tax clients is in regards to record-keeping for charitable contributions.  Below is a summary of the record-keeping requirements and an example of what may happen if these requirements are not met. If you have questions about record-keeping requirements for charitable contributions or need to […]

  • 2016’s Top Tax Issues

    Fall is officially here, which means the next tax season is just around the corner! Keeping that in mind, here’s a list of regulatory and legislative developments, tax issues, and other concerns that we’ll be sure to see in the upcoming year. Supreme Court ruling on ACA Millions will continue to have access to affordable […]

  • IRS Issues Special Per-Diem Rates For 2015-16 Travel

    The IRS issued its annual update of special per-diem rates, to be used in substantiating certain business expenses taxpayers incur when traveling away from him in 2015 and 2016. Provided in the notice are transportation industry meal and incidental expenses rates, the rate for the incidental-expenses-only deduction, and the rates and list of high-cost localities […]

  • Give More at Your Next Networking Event

    When you think about your motives for attending a networking event, it often comes down to selling. However, it doesn’t – and shouldn’t, always be about the sale. Remember that in the end, people choose to do business with people they know, like, and trust. Here are ways to build a more giving relationship with […]