Section 179, Other Provisions Extended

Section 179, Other Provisions Extended
Looks like someone convinced Congress they’d only get their fruitcakes if they figured out our tax laws for 2014. I mentioned that the House passed this bill already, so this is the Senate rubber stamping the the bill and moving it to Pres. Obama’s desk. I’m not a Precog, but I’d put my money on the President signing the ...

Personal Property Tax Deduction: You’re Doing It Wrong

Personal Property Tax Deduction: You're Doing It Wrong
Hello everyone! I’ve had a nice break from writing about taxes this past month, but I’m finally ready to get back on that horse (though writing about taxes would probably be better described as getting on a mule or, better yet, an ass). I’m picking up where I left off on my personal tax deduction ...

173 Pairs of Shoes – a Non-Cash Charitable Deduction Tax Case

173 Pairs of Shoes - a Non-Cash Charitable Deduction Tax Case
Right now, sitting in my garage, I have an unused microwave (works, just doesn’t match the other appliances we had to replace) and a washing machine (works great as an unsightly shelf, not so much as a washing machine). We’ve been planning to donate them to anyone who wants them, preferably to a charity that’ll ...

Deductible Travel Expenses

Deductible Travel Expenses
(NOTE: This is a continuation of a case study looking into tax implications of starting up a small business. This particular article deals with tax deductions for small business. Click here to go back to the start of the case study.) Amy, in pursuit of selling more nail wraps, decided to attend a conference in Dallas to help ...

Meals and Entertainment Deduction

Meals and Entertainment Deduction
(NOTE: This is a continuation of a case study looking into tax implications of starting up a small business. This particular article deals with tax deductions for small business. Click here to go back to the start of the case study.) While running around town selling her nail wraps, Amy runs into a salon owner who is interested ...

Church of the Immaculate Haven

Church of the Immaculate Haven
Every time some minister slips out a political opinion (or perhaps shouts it from the pulpit), the media fills the cablelines with talking heads clashing on whether or not churches should be tax-free entities. While enlightening arguments may exist on both sides of this debate, this post is not one of them. Instead, we’ll poke ...