Month: July 2017

Is it worth filing an amended tax return?

Suppose you just glanced at the 2016 tax return you filed in April and noticed an error or omission. Or maybe you remembered a deduction you neglected to include on your return from the prior year. Is it too late…

Home office deductions: It’s not so simple

Do you work from your own home? If so, you may be entitled to deduct home office expenses on your personal income tax return. Taxpayers are sometimes hesitant to use this deduction, but the IRS recently published a reminder about…

Meet the “new and improved” research credit

After years of uncertainty, the Protecting Americans from Tax Hikes (PATH) Act of 2015 permanently extended a tax credit for research expenses for qualified small businesses. Generally speaking, the basic research credit is equal to 20 percent of the cost of qualified…