Income Tax Deductions Ain’t What they Used to Be

Tax Deductions & Tax Breaks

In America, we love our tax deductions. We may despise the tax code, and find it anything but user-friendly – but don’t touch our cherished deductions. Much of that is born out of the history of the tax code. For decades, high marginal tax rates and generous deductions, affected the way we spent money and […]

2013 Taxes Are History – Start Preparing for 2014 Now

tax changes

The further we go into the future, the less certain we are about IRS rules and regulations. We know how things are now – and we know something about what is planned – but if the Affordable Care Act (Obamacare) is any indicator, those plans are subject to change. Tax year 2014 rules may not […]

Tax Considerations for Freelance Workers

tax consdierations for freelancers

Being your own boss through freelance work is a great challenge and great experience. You set your own hours, you pick the clients, and the buck stops with you. There is no system for you to follow, no rules of engagement passed down from some drone at the corporate office. That also means you have […]

Will You Take the Home Office Tax Deduction for 2013?

2013 new home office tax deductions

I actually take the home office tax deduction for my business. I’m in a good place, where the deduction helps reduce my income — without AMT worries. Additionally, since I don’t include home depreciation in my deduction, I don’t have to worry about what happens if I sell my home for a gain (not that […]