Posts Tagged ‘Deduction’

2021-2022 Tax Planning Guide Released

Do your tax strategies need a refresh? With some tax law changes going into effect in 2021 and more changes potentially on the horizon, you probably have questions about tax planning this year. To save

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Posted In: Alerts & Advisories

Tax Alert- Businesses can show appreciation — and gain tax breaks — with holiday gifts and parties

With Thanksgiving just around the corner, the holiday season will soon be here. At this time of year, your business may want to show its gratitude to employees and customers by giving them gifts or

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Posted In: Alerts & Advisories

Tax Alert- You can only claim a casualty loss tax deduction in certain situations

In recent weeks, some Americans have been victimized by hurricanes, severe storms, flooding, wildfires and other disasters. No matter where you live, unexpected disasters may cause damage to your home or personal property. Before the

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Posted In: Alerts & Advisories

Tax Alert- Home sales: How to determine your “basis”

The housing market in many parts of the country is strong this spring. If you’re buying or selling a home, you should know how to determine your “basis.” How it works You can claim an

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Posted In: Alerts & Advisories

Tax Alert- Can you qualify for a medical expense tax deduction?

You may be able to deduct some of your medical expenses, including prescription drugs, on your federal tax return. However, the rules make it hard for many people to qualify. But with proper planning, you

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Posted In: Alerts & Advisories

Emerging Tax Alert- The IRS provides guidance on meal and entertainment deductions

The IRS has released proposed regulations addressing the deductibility of meal and entertainment expenses in tax years beginning after December 31, 2017. Among other things, the proposed regulations clear up lingering confusion regarding whether meals

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Posted In: Alerts & Advisories

Tax Alert- Home is where the tax breaks might be

If you own a home, the interest you pay on your home mortgage may provide a tax break. However, many people believe that any interest paid on their home mortgage loans and home equity loans

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Posted In: Alerts & Advisories

Tax Alert- There still might be time to cut your tax bill with IRAs

If you’re getting ready to file your 2019 tax return, and your tax bill is higher than you’d like, there may still be an opportunity to lower it. If you qualify, you can make a

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Posted In: Alerts & Advisories

Emerging Tax Alert- IRS updates rules for mileage-related deductions

The IRS has issued new guidance updating the rules for using optional standard mileage rates when calculating “above-the-line” deductions for the costs of operating an automobile for certain purposes. IRS Revenue Procedure 2019-46 also lays

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Posted In: Alerts & Advisories

Edelstein Hosts Annual Tax Timely Topic Breakfast

On November 12th, 2019, we hosted our Annual Tax Timely Topic Breakfast at the UMass Club. The morning started with our IT Director, Mike Bisso, presenting on Security Awareness. After that, a panel consisting of

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Posted In: Events