Month: July 2018

How to nail down the historic structures credit

Are you thinking of renovating a building you own in an historic part of town? Before you start knocking down walls, find out if the building qualifies as an historic structure. It could result in a tax credit reducing your…

How to salvage a casualty loss deduction

You’ve likely heard about the volcanic eruptions in Hawaii and how they’ve caused extensive damage to the property of several U.S. taxpayers. And as we head into hurricane and tornado seasons, other disasters are likely. Luckily, there’s a silver tax…

The tax perks of summer camp

Are you sending your kids to summer camp while you and your spouse work? Not only will your kids enjoy it, you will also when you see the potential tax break. If certain requirements are met, the cost of day…

Feast on tax benefits for company picnics

Have you planned a summer outing for your employees? It might be a picnic or barbecue for the Fourth of July. Despite recent tax law changes eliminating most entertainment and meal deductions, your business can still deduct qualified expenses if…