The IRS has thwarted some identity theft attempts, but thieves are still stealing billions of dollars every year from taxpayers. Another annual income tax deadline has come and gone. Maybe you had to pay in, but perhaps you were owed a refund. If the latter is true, did you receive it? A lot of taxpayers […]
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Understanding the Home Office Deduction
The home office deduction has the potential to be a wonderful money-saving option for business owners operating from an office in their house, apartment, or other residence, but you have to first make certain you qualify for it. The IRS is quite specific about which businesses meet the requirements, so it pays to fully understand […]
Donating to Charitable Organizations
Good afternoon everyone, today we’re going to talk about donating to charitable organizations. I know what you’re thinking, “How is this going to help me financially?” So there is a benefit to donating to a charitable organization. There are a few ways that this may help you: How much can I deduct? Your total […]
Tax Reduction for Atlanta Business Owners – Section 179
Section 179 allows a business to deduct the total cost for qualified leased, financed, or purchased equipment in the year it was purchased instead of depreciating the cost over the life of the equipment. Typically, however, Congress waits until after the first of the year to renew this section which can hurt small business owners […]
Sliding Door Injury Results in $21.5M Trial Verdict
A federal jury trial awarded $21.5 million in damages to a Springfield, Illinois man who was injured by an automatic sliding-glass door on a Holland America Line cruise ship dating back to 2011. The personal injury damages awarded by the jury were $5M, which are tax free. The punitive damages were $16.5M which means a […]
End of Year Tax Tips
Hello everyone, I hope everyone is having a happy Friday. In the past, Delerme CPA has touched base on some of the topics we’re about to talk about, but we will recap in order to help you guys with the upcoming tax deadlines. There are a few ways that can help save money in taxes. […]