If you use your car in your job or business and you use it only for that purpose, you may deduct its entire cost of operation (subject to limits discussed later). However, if you use the car for both business and personal purposes, you may deduct only the cost of its business use. You can [...]
• Business owners can sock away a maximum of $54,000 in a SEP-IRA or $12,500 in a SIMPLE IRA. • If you're 70½ and don't need your required minimum distribution, give it to charity. If you want to save money, dust off your 2016 tax return. Back in April, after your preparer filed your Form [...]
So, you owe the IRS. Bummer. Here's how to plan better for next year While all your friends are posting on Facebook about what they plan to do with their tax returns, you're scrambling to figure out how you'e going to drum up the money you owe in taxes. Paying taxes can be a bummer, especially if you are [...]
Here are 5 reasons Trump and Congress are struggling with tax reform A tax reform plan was supposedly imminent when President Trump met with airline executives at the White House on Feb. 9. “We're way ahead of schedule,” Trump said then. “We're going to be announcing something, I would say, over the next two or three [...]
Tax Day isn't likely to be easier next year: Bill Sternberg Republicans don't agree on changes to the tax code any more than they do changes to Obamacare. We got our tax returns back from the accountant the other day. Although our family finances aren’t unusually complicated, our federal and state returns for 2016 were [...]
