News Feeds

Finance/Money

Display # 
# Feed Name
1 Associated Press
2 Wall Street Journal

Tax Tips Small Business

Clothing for Your Job is Not Always Deductible

Understanding the rules

Many taxpayers are required to maintain a certain personal appearance or wear special clothing for work. However, not all your purchases for work-related attire or personal grooming reap a tax deduction. If you are required to wear a uniform or other special clothing that has the name of your employer or some other logo on it, that cost is deductible as a miscellaneous employee business deduction. Read more...

Small Business Quick Tip

Instead of deducting the actual expenses for the business use of your vehicle, opt for the standard mileage rate. In 2011, you can deduct 51 cents for each business mile you drive (55.5 cents per mile starting July 1, 2011).
Saturday, 19th May 2012
EASEAL_L

What is an Enrolled Agent and why should I care?

Click Here to find out

 

find-us-on-facebook

 

Tax Tips Personal

IRA Contributions for Military Personnel

Nontaxable combat pay is considered compensation

Members of the military serving in Iraq, Afghanistan, and other combat zone localities can now put money into an IRA, even if they received tax-free combat pay. Under the Heroes Earned Retirement Opportunities (HERO) Act, Read more...

Personal Quick Tip

Go to your tax appointment well organized. Have all your income statements such as W-2s and 1099s separate from your expenses. Make sure you have all the proper social security numbers for dependents, as well as their names as they appear on their social security card. Careful organization will save you time come tax season.