Tag Archives: tax deductions

Image shows 4 people - 2 women and 2 men huddled over the camera with t-shirts on that read volunteer

Volunteering? Know What You Can Deduct

July 17, 2018

Because donations to charity of cash or property generally are tax deductible (if you itemize), it only seems logical that the donation of something even more valuable to you — your time — would also be deductible. Unfortunately, that’s not the case.

Continue reading

Advertisements
Image shows a man installing solar panels to the roof of a residential building.

Green Home: Save Tax By Saving Energy

July 10, 2018

“Going green” at home — whether it’s your principal residence or a second home — can reduce your tax bill in addition to your energy bill, all while helping the environment, too. The catch is that, to reap all three benefits, you need to buy and install certain types of renewable energy equipment in the home.

Continue reading

Image shows a tudor style brick house with a sold realtor sign in front of it.

Selling Your Home? Be Aware Of The Tax Consequences

May 23, 2018

In many parts of the country, summer is peak season for selling a home. If you’re planning to put your home on the market soon, you’re probably thinking about things like how quickly it will sell and how much you’ll get for it. But don’t neglect to consider the tax consequences.

Continue reading

Image shows a calculator, financial document, coins ranging from a penny to a quarter and a measuring device for measuring small measurements.

It’s Not Too Early To Start Tax Planning For 2018!

May 7, 2018

With the April 17 individual income tax filing deadline behind you (or with your 2017 tax return on the back burner if you filed for an extension), you may be hoping to not think about taxes for the next several months. But for maximum tax savings, now is the time to start tax planning for 2018. It’s especially critical to get an early start this year because the Tax Cuts and Jobs Act (TCJA) has substantially changed the tax environment. 

Continue reading

Image of a stop sign with a hand print as the "o". Under the stop sign is a sign that reads tax identity theft.

Don’t Be a Victim of Tax Identity Theft: File Your 2017 Return Early

January 16, 2018

The IRS has just announced that it will begin accepting 2017 income tax returns on January 29. You may be more concerned about the April 17 filing deadline, or even the extended deadline of October 15 (if you file for an extension by April 17). After all, why go through the hassle of filing your return earlier than you have to?

But it can be a good idea to file as close to January 29 as possible: Doing so helps protect you from tax identity theft. Continue reading