Mar 14, 2018 | Firm Updates, Individual Tax, Tax Tips
If you suffered damage to your home or personal property last year, you may be able to deduct these casualty losses on your 2017 federal income tax return. For 2018 through 2025, however, the Tax Cuts and Jobs Act suspends this deduction except for losses due to an...
Mar 7, 2018 | Firm Updates, Individual Tax, Tax Tips
Whether you’re claiming charitable deductions on your 2017 return or planning your donations for 2018, be sure you know how much you’re allowed to deduct. Your deduction depends on more than just the actual amount you donate. Type of gift One of the biggest factors...
Mar 1, 2018 | Firm Updates, Small Business, Tax Tips
If you purchased qualifying property by December 31, 2017, you may be able to take advantage of Section 179 expensing on your 2017 tax return. You’ll also want to keep this tax break in mind in your property purchase planning, because the Tax Cuts and Jobs Act (TCJA),...
Feb 20, 2018 | Firm Updates, Individual Tax, Tax Tips
If you moved for work-related reasons in 2017, you might be able to deduct some of the costs on your 2017 return—even if you don’t itemize deductions. (Or, if your employer reimbursed you for moving expenses, that reimbursement might be excludable from your income.)...
Feb 13, 2018 | Firm Updates, Individual Tax, Tax Tips
Whether you had a child in college (or graduate school) last year or were a student yourself, you may be eligible for some valuable tax breaks on your 2017 return. One such break that had expired December 31, 2016, was just extended under the recently passed...