Articles - Page 44

Charitable deductions and what you can claim

Do you happen to be the charitable type? Depending on which organization(s) you chose to donate your time, money, or goods to, you may be able to deduct those donations on your tax...

Hello everyone! This is Donna from Donna J. Jackson & Associates, PLLC. It seems that topic on everyone’s minds these days: how can I get more tax savings? I think we can all...

Investors: Make sure you avoid these 5 common tax mistakes

For most investors, and even certain tax accountants, sorting through the multifaceted IRS rules on investment taxes can undoubtedly be a nightmare. Drawbacks abound, and the consequences...

What can you deduct on your Federal Tax Return?

The first step when it comes to filing your federal tax return is going to be deciding just how you’re going to file. The first major question you’ll need to ask yourself is “Should...

Rules for foreign currency transactions

Rules for determination of amount, timing, character and source of foreign currency gains and loss are present in code section 988. Following transactions are included in code section...

Tax Savings Tips

For many individuals, tax time can be frustrating. Changes to the tax code can often mean that last year’s deductions might not apply anymore or you no longer qualify. Working with...

Tax Basics for Real Estate Investors

Tax Basics for Real Estate Investors Real estate investors have a unique income stream. At the same time, it comes with its own distinct challenges in terms of tax liabilities....

Deductions to Claim on Your Taxes

During tax season, individual tax payers are often looking for ways to legally reduce their tax burden. Throughout the pages of IRS regulations, there are a myriad of available deductions...

Income Tax Exemptions

While filing our taxes might involve a detailed analysis of what we spent throughout the year to build our list of deductions, the IRS also offers some incentives that reduce the amount...