One of the worst things we can do as taxpayers is assume we know everything. There’s always more to learn, and as much as you might know about taxes, you may be missing out on key tax deductions just because you haven’t heard about them. Tax deductions to consider Believe it or not, there are […]
Tag: tax deduction
Depreciation and Your Bottom Line: A Tax-Saving Approach
A business asset is property you acquire to help produce income for your company. This can be durable equipment from computers to office furniture to tractors. Depreciation is a way of allocating the cost of the asset over its expected usable life by expensing a portion of the cost over several years. This accounting method […]
How to Claim a Charitable Deduction Without Mistakes
If you offer gifts or money to qualified organizations eligible to receive tax-deductible charitable contributions, you must do two things: Here are six things you should remember about donations and written acknowledgments: Of course, you also have to make sure the organization you are donating to is qualified. Not every nonprofit can grant you the […]