Careers

Tag: break

  • Can You Deduct Charitable Gifts on Your Tax Return?

    Can You Deduct Charitable Gifts on Your Tax Return?

    Many taxpayers make charitable gifts — because they’re generous and they want to save money on their federal tax bills. But with the tax law changes that went into effect a couple years ago and the many rules that apply to charitable deductions, you may no longer get a tax break for your generosity. Are…

  • Plug in Tax Savings for Electric Vehicles

    Plug in Tax Savings for Electric Vehicles

    While the number of plug-in electric vehicles (EVs) is still small compared with other cars on the road, it’s growing — especially in certain parts of the country. If you’re interested in purchasing an electric or hybrid vehicle, you may be eligible for a federal income tax credit of up to $7,500. (Depending on where…

  • Buy Business Assets Before Year End to Reduce Your 2018 Tax Liability

    Buy Business Assets Before Year End to Reduce Your 2018 Tax Liability

    The Tax Cuts and Jobs Act (TCJA) has enhanced two depreciation-related breaks that are popular year-end tax planning tools for businesses. To take advantage of these breaks, you must purchase qualifying assets and place them in service by the end of the tax year. That means there’s still time to reduce your 2018 tax liability…

  • Home-Related Tax Breaks Valuable on 2017 Returns; Less So for 2018

    Home-Related Tax Breaks Valuable on 2017 Returns; Less So for 2018

    Home ownership is a key element of the American dream for many, and the U.S. tax code includes many tax breaks that help support this dream. If you own a home, you may be eligible for several valuable breaks when you file your 2017 return. But under the Tax Cuts and Jobs Act, your home-related…