2015 Sales Tax Holidays

As the summer comes to a close, many consumers are beginning to prepare for going back to school.  This means that budgets are stretched a little thinner with the extra purchases that have to be made for school supplies.  Did you know that many states have enacted a “Sales Tax Holiday” to help consumers stretch their budgets?

Deducting the Costs of a Spouse on a Business Trip

Do you plan on taking a business trip in the future? Does your spouse want to join you on your trip? Would your spouse’s expenses be deductible? Below we will discuss the rules of deductibility when a spouse accompanies you on a business trip.

Spousal IRA Contributions

Does your spouse have a job?  Are you looking to lower your tax bill and/or just boost your retirement?  In America today, there are many reasons as to why not every family is a double income family.  The reasons can vary from wanting to be a parent raising your children to the American public still having trouble finding quality jobs.  Whatever the reason, the government wants people to save for their retirement.  So much so, they will waive the earned income rules for individual retirement account (IRA) contributions for a spouse who is not employed.  At the end of the year, if you have s

Appraisals for Charitable Contributions

Have you ever considered donating high-value property you own to a charitable organization?  On the surface this may see simple, but there are a few guidelines that must be followed to make sure the IRS doesn’t disallow the deduction.  The guidelines are in place to prevent taxpayers from taking unaccountable or over-stated deductions on their returns.

Exploring Itemized Deductions, Part II

Last week we covered the first half of Schedule A – Itemized Deductions.  This week we will take a look at deductions on the remainder of this schedule.


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