Business Use of Home

This handout outlines the expenses that are deductible for the business use of the home. The use of the home as a day care facility is also highlighted.

BusinessClare FazackerleyJanuary 5, 2021Business, Business Use of Home, Deductions, Deductible Expenses, Expenses, Day Care Providers, Home Office, Depreciation, Home Improvements, Home Office Deduction, Small Business, Day Care Facility

Mileage and Expense Log

The log provides a worksheet for taxpayers to track mileage and expenses for tax deductibility of those miles and expenses. The log provides the entries needed to be compliant with IRS regulations.

BusinessClare FazackerleyJanuary 3, 2021Business, Starting a Business, Market Research, Expenses, Deductions, Deductible Expenses, Worksheet, Mileage Log

Rental Income and Expense Worksheet

This worksheet provides a taxpayer with a means to track income and expenses for a rental property. The worksheet also provides a place to keep track of depreciation items.

BusinessClare FazackerleyJanuary 2, 2021Business, Renting, Landlord, Worksheet, Deductions

Charitable Contributions Guide

This guide outlines the types of qualified charities which can receive tax deductible donations. It also discusses contributions of property including the donation of a vehicle.

Individual Income TaxClare FazackerleyOctober 14, 2018Tax, Charitable Contributions, Deductions, Charity, Mileage

Charitable Noncash FMV Guide

This handout provides a fair market value guide for the donation of goods. There is also a tracker for taxpayers to record donations.

Individual Income TaxClare FazackerleyOctober 13, 2018Tax, Charitable Contributions, Deductions, Charity, Noncash Donations, Donation Tracker

Education Tax Benefits

This handout discusses the education tax benefits. It also provides a comparison of the education credits and discusses the education savings plans.

Planning & Life Issues, Individual Income TaxClare FazackerleyOctober 8, 2018Tax, Education, College, Education Credit, Education Savings, Higher Education, College Expenses, Deductions

Gambling Log

This handout highlights the tax reporting requirement for taxpayers who have gambling winnings. It also includes a worksheet to track gambling activity.

Individual Income TaxClare FazackerleyOctober 3, 2018Tax, Gambling, Gambling Winnings, Gambling Losses, Losses, Deductions, Worksheet, Gambling Activity

Tax Cuts and Jobs Act - Depreciation

This handout contains an overview of the new tax law that was signed into law on December 22, 2017. This overview focuses on depreciation changes clients are likely to be interested in. Information includes the Section 179 deduction, special (bonus) depreciation, luxury automobiles, and qualified improvement property.

BusinessClare FazackerleySeptember 30, 2018Business, Tax Reform, 2018 Tax Changes, Business Tax, Deductions, Farm Vehicles, Farm Expenses, Business Equipment

High-Income Taxpayers

This handout provides a listing of deduction limitations for taxpayers who have higher taxable income.

Individual Income TaxClare FazackerleySeptember 30, 2018Tax, High Income, High Taxable Income, Deductions, Exemptions, Capital gains, Capital Gain Tax Rates, Retirement Credits, IRA Contributions, Medicare, Education

Itemized Deductions - Casualty and Theft Losses

This handout identifies which losses are deductible and which gains are taxable in federally-declared disaster areas.

Individual Income TaxClare FazackerleySeptember 25, 2018Tax, Deductions, Losses, Casualties, Theft, Deductible Losses, Natural Disasters, Disaster Areas, Tornado, Flood, Hurricane, Fire, Insurance, Disaster Relief

Itemized Deductions - Homeowners

This handout identifies expenses for homeowners which are deductible as itemized deductions. It also includes a chart for home mortgage debt limits.

Individual Income Tax, Planning & Life IssuesClare FazackerleySeptember 24, 2018Tax, Deductions, Itemized Deductions, Home Mortgage, Homeowners, Home Improvements, Buying a Home, Home Equity Loan, Mortgage Interest

Itemized Deductions - Interest Paid

This handout identifies deductible interest expense that is claimed on Schedule A (Form 1040) as an itemized deduction.

Individual Income TaxClare FazackerleySeptember 23, 2018Tax, Deductions, Itemized Deductions, Interest, Deductible Interest, Schedule A, Mortgage Interest, Deby, Home Equity, Reverse Mortgages, Investment Interest, Homeowners, Investment

Itemized Deductions - Medical Expenses

This handout discusses which medical expenses are deductible and who can deduct those expenses. It also highlights the deductible expenses for long-term care and nursing home costs.