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Monthly Archives: March 2013
Miscellaneous Itemized Deductions
If you are able to itemize your deductions, that is, if your mortgage interest, charitable donations, real estate taxes and the like exceed the standard deduction, you may be able to take advantage of certain other expenses that are allowed … Continue reading
Business Entertainment Expenses
Closely related to meal expenses are business entertainment expenses. Both are subject to a 50% reduction in the deductible amount. And, both are subject to the same substantiation requirements; that is, the taxpayer is required to have a receipt documenting … Continue reading
What Meal Expenses May I Deduct?
Business meal expenses are deductible only if they are: Directly related to or associated with the active conduct of the taxpayer’s trade or business, Not lavish or extravagant, and Incurred while the taxpayer or taxpayer’s employee is present at the … Continue reading
Health Insurance Deduction
If you are self-employed and paying for medical insurance, you may qualify for a tax deduction for the premiums paid. In order to qualify, you must be one of the following: A self-employed individual with a net profit reported for … Continue reading
Cash Contributions
If you make a donation to a charity this year, you may be able to take a deduction for it on your 2013 tax return. There are certain requirements that must be met in order for a contribution of money … Continue reading
Lisa the Tax Lady 