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Author Archives: Lisa W. Hull
Firm Growth
I’ve been practicing public accounting as a solo since 2007 and each year my practice has experienced growth. I’ve never really advertised, seems to have grown organically through good service and referrals from happy clients. A few months ago, I … Continue reading
Posted in Uncategorized
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Itemized or Standard Deduction?
The IRS statistics show that most taxpayers use the standard deduction. However, you may be able to reduce your tax bill if you itemize on Schedule A. What expenses are deductible on Schedule A? I think most people are familiar … Continue reading
Posted in Deductible Expenses, Uncategorized
Tagged filing status, IRS, itemized deductions, standard deduction
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2016 Automobile Mileage Rates
The IRS released the 2016 standard mileage rates for business, medical and moving in December. The rates have decreased from 2015, probably due to the decrease in the cost of gasoline. Effective January 1, 2016, the standard mileage rates for … Continue reading
Highlights of the Protecting Americans from Tax Hikes Act of 2015
With just a couple of weeks before year end, Congress passed the Protecting Americans from Tax Hikes Act of 2015 (PATH Act). The legislation deals with more than 50 tax provisions that expired December 31, 2014. Some provisions were extended, … Continue reading
Tax Deductible Expenses
I’m often asked if a particular expense is tax deductible. Everyone is looking for a deduction! In general, only expenses incurred in a trade or business (IRC §162) or those incurred in the production of income (IRC §212), will be … Continue reading
Posted in Deductible Expenses, Uncategorized
Tagged deductible business expenses, IRS, necessary expense, ordinary, reasonable
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Lisa the Tax Lady 