IRS & Tax in the News

Tax Deduction / Minimization Tips

Buy a New/Used Car in 2018 and get a 100% Tax Deduction!

Starting in 2018, it is now possible to claim a 100% tax deduction for the cost of a vehicle. Here are the rules (be sure to consult with your tax advisor before implementing any tax [...]

Tax Savings|

Home Equity Loan Interest is No Longer Tax Deductible- and the Loophole!

The Tax Cuts and Jobs Act passed in December 2017 no longer permits an individual to deduct the interest paid on home equity loans. This is a major change in the tax laws and very [...]

Personal Tax Planning|

Bitcoin and other Virtual Currency and a few Tax Tips!

Virtual Currency/ Bitcoin Taxation Bitcoin and other virtual currency are treated as “property” for tax purposes. For purposes of this article, I will refer to “virtual currency” with the understanding that it potentially could include [...]

Real Estate Investor Webinar (Download)

If you missed my webinar for real estate investors and professionals earlier this month, here is a link for you to listen at your leisure:

Another Real Estate Professional Beats IRS in Tax Court!

A Nice Tax Win for Real Estate Investors!   Another Real Estate professional beats IRS in Tax Court!  The IRS is not, contrary to popular belief, invincible.  Given that I often speak and write about [...]

Tax Implications of Divorce

Some Tax Implications of Divorce (2017) There are many potential tax implications of divorce in the United States.  This article points out a few very general tax considerations to keep in mind.  However, all tax/legal [...]

Personal Tax Planning|

Do you have the Right Tax Return Preparer?

Do you have the Right Tax Return Preparer?                               AND How do you find the right tax return preparer? Compatible with [...]

Tax Tips for Gifts to Charities

Tax Tips for Gifts to Charity It is likely that you make donations to various charities throughout the year.  Make sure that you get credit for these donations when Tax Day arrives.  Here are a [...]

Tax Savings|

IRS Dirty Dozen For 2017: Tax Scams to Avoid

Every year, the IRS posts its version of the "Dirty Dozen"- the 12 most prevalent tax scams out there for the year.  Following/implementing any of these scams is a sure way to trouble with the [...]

IRS Highlights Important 2016 Tax Changes

In Fact Sheet 2017-1, the IRS has highlighted some of the important 2016 tax changes that affect the current filing season. These include: Three extra days to file and pay. Taxpayers will have until Tuesday, [...]