Tracking Down Donation Substantiation
If you’re like many Americans, letters from your favorite charities may be appearing in your mailbox acknowledging your 2023 donations. But what happens if you haven’t received such a letter? …
Blog
How can I get a QBI Deduction?
QBI, “qualified business income,” can trigger a tax deduction for some small business owners or self-employed individuals. How it works. The deduction is still available to owners of pass-through entities …
What can I deduct from business travel?
If you and your employees will be traveling for business this year, there are many factors to keep in mind. Under the tax law, certain requirements for out-of-town business travel …
Appraisals Aren’t Just for Businesses Anymore
Whether you’re in the process of making a retirement or estate plan or intend to donate property to charity, you’ll need to know the value of your assets. For many …
Pitfalls: First-year Bonus Depreciation and Sec. 179 Expensing
Eligible taxpayers can elect to use bonus depreciation or Section 179 expensing to deduct the full cost of eligible property in the year it’s placed in service. Alternatively, they may …