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Personal Finance
We are dedicated to keeping clients abreast of the latest developments and tax-saving strategies. This section includes a library of hundreds of timely articles about business, taxes, finances, trends and the like. The articles are categorized by subject matter, which can be accessed from the links. Click on your topic of interest and find a wealth of information.
Making Smart Decisions
We are dedicated to keeping clients abreast of the latest developments and tax-saving strategies. This section includes a library of hundreds of timely articles about business, taxes, finances, trends and the like. The articles are categorized by subject matter, which can be accessed from the links on the left or at the top. Click on your topic of interest and find a wealth of information.
The following articles are part of the Smart Decisions library, but are highlighted here because they include information that is timely, or include information about recent tax changes that we wish to call to your attention and encourage you to read.
o New Law Allows Faster Write-Off of Business Assets – A new law passed in 2008 allows a faster write-off of business assets. A must read for all business owners. See similar articles in the Business section.
o Tax Benefits for Fuel-Efficient Vehicles – The tax law provides for substantial tax credits for certain fuel-efficient vehicles. This article explores the benefits for both personal and business use of fuel-efficient vehicles. See similar articles in the Automotive section.
o Deducting Auto Expenses & Luxury Auto Limits - Congress recently reinstated the 50% bonus depreciation which, in turn, increased the allowable depreciation deductions for passenger vehicles and provides a substantial increase in the allowable first-year deduction for SUVs. See similar articles in the Automotive section.
o Charitable Contribution Substantiation Rules – Congress has tightened up the recordkeeping requirements for charitable giving, which all taxpayers should be aware of. See similar articles in the Charity section.
o Tax Strategies in a Down Market – This article explores some possible tax strategies in a down market, such as we have been recently experiencing. See similar articles in the Investments section.
o Home Mortgage Debt Forgiveness Relief – Taxpayers who have had their primary home foreclosed upon, have had a short sale, or who negotiated a debt reduction will have debt relief income, which could be taxable income. This article explains the special law that is in effect for years 2007 through 2009 that permits taxpayers to exclude home mortgage debt relief from income. See similar articles in the Tax Changes in 2008 & Beyond section.
o Refinanced Mortgage Interest May Not All Be Deductible – In light of all of the refinancing over the past few years, the IRS has stepped up their audits on the home mortgage interest deduction. This article explains when refinanced interest can and cannot be deducted as home mortgage interest and should be of interest to anyone who refinanced their home mortgage and taken out cash. See similar articles in the Your Home & Taxes section.
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