December 2015

Monthly 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 […]