Blog Archives

Charitable Donations of Services

Americans have used charitable donations to lower their taxable income since World War I when the federal government introduced the charitable tax deduction. Not all nonprofit organizations qualify as beneficiaries for tax-lowering gifts, nor do all gifts to eligible charities

Posted in Deductions

Charitable Donations of Money or Goods

Americans have used charitable donations to lower their taxable income since World War I when the federal government introduced the charitable tax deduction. Not all nonprofit organizations qualify as beneficiaries for tax-lowering gifts, nor do all gifts to eligible charities

Posted in Deductions

Teaching Kids About Taxes

“If you are truly serious about preparing your child for the future, don’t teach him to subtract – teach him to deduct.”  Fran Lebowitz

Posted in Quotes

Teaching Kids About Taxes

“The best way to teach your kids about taxes is by eating 30 percent of their ice cream.” Actor and comedian Bill Murray

Posted in Humor

Leadership

“Leadership is the art of getting someone else to do something you want done because he wants to do it.”  Dwight D. Eisenhower

Posted in Quotes

2018 Tax Filing Season

The IRS will begin accepting tax returns on Jan. 29.  The tax deadline will be April 17 this year – so taxpayers will have two additional days to file beyond April 15.

Posted in IRS

Tax Preparers

When it comes to deciding who should prepare your taxes, the different designations can sometimes be confusing.  The major 3 options are Enrolled Agent, Tax Attorney and CPA.  An Enrolled Agent is usually a full-time tax advisor and tax preparer

Posted in IRS

2018 Standard Mileage Rates

The standard mileage rates for business use of a vehicle will increase slightly in 2018. For business use of a car, van, pickup truck, or panel truck, the rate for 2018 will be 54.5 cents per mile, up from 53.5

Posted in Deductions

Colorado’s New Minimum Wage

On January 1, 2018, the Colorado minimum wage will increase to $10.20 per hour. For tipped employees, the minimum wage will be $7.18. The new minimum wage is the result of the passage of Amendment 70 by Colorado voters in

Posted in Colorado

Donating Art

How much of a deduction can I take for the art I donated?  It depends. The people who buy the art are entitled to deduct the fair market value of the art, but the people who create the art are

Posted in Deductions