Income Tax Preparation, Accounting and Payroll service by Don Brooks & Associates - Don Brooks Associates, Inc.
Don Brooks & Associates, Inc.
481 Buckland Rd
Post Office Box 605
South Windsor, CT 06074
Phone: 860-648-4002
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Tax Tips Small Business
Deducting the Business Use of Your Home
Don't overlook your home officeIf you use a portion of your home for business, you may be able to take a home office deduction whether you are self-employed or an employee. Expenses that you may be able to deduct for business use of the home may include the business portion of real estate taxes, mortgage interest, rent, utilities, insurance, depreciation, painting, and repairs. Read more...
Small Business Quick Tip
| Truck drivers and other employees who are subject to the Department of Transportation's "hours of service" rules are allowed to deduct 80 percent of their meals in 2009. In lieu of using actual expenses for meals and incidental expenses, you can deduct the federal rate of $59 per day. |
Saturday, 19th May 2012
Tax Tips Personal
HSA Funding Options
For a limited time only, there are more options
Health Savings Accounts (HSAs) are a great tax vehicle for making the most of your medical expenses. However, it's not always easy to come up with the money to fund an HSA. Well, now there are more options available to HSA owners. At any time before 2012, you can make a one-time only tax-free rollover from an IRA to an HSA. This rollover amount may not be more than your HSA maximum contribution for your type of coverage, whether individual or family.
Read more...Personal Quick Tip
| In 2010, premiums that are paid or accrued for "qualified mortgage insurance" in connection with home acquisition debt on your residence are deductible as home mortgage interest. |