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Posts Tagged Deductions

Charitable Contributions – Year-end planning

There are a number of important tax law provisions that have taken effect in recent years which should be remembered when making or receiving year-end gifts to charities. Some of the changes to keep in mind include: Rules for Charitable Contributions of Clothing and Household Items Household items include furniture, furnishings, electronics, appliances and linens. […]

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IRS Announces Simplified Option for Claiming Home Office Deduction

Last year the Internal Revenue Service announced a simplified option that owners of home-based businesses and qualified home-based workers may use to figure their deductions for the business use of their homes. For ministers and other religious workers who work out of their homes, this may be an important development. The new optional deduction, capped […]

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