by Pierre Philantrope | Dec 6, 2023 | Tax Tip
We are at that time of the year again where you should consider meeting with a tax professional to discuss any year end strategies that might reduce your 2023 taxes. The following are some of the tax breaks from which you may benefit, as well as the strategies that...
by Pierre Philantrope | Nov 29, 2023 | Tax Tip
Taxpayers’ tax liabilities could be drastically changed after a divorce. However, when a couple is contemplating a divorce, a discussion with their lawyers and tax advisors related to tax implications of their divorce could greatly help in assessing the tax...
by Pierre Philantrope | Nov 22, 2023 | Tax Tip
The principal residence gain exclusion is very valuable when an appreciated home is sold. Taxpayers should keep evidence of home repairs and improvements that increase their basis in the property to determine their gain on the sale. IRS Publication 523 has a long list...
by Pierre Philantrope | Nov 8, 2023 | Tax Tip
Your tax return was filed as required. However, you found out that that it was not accurately prepared when you contacted a tax professional for a review, a bank or mortgage broker to apply for a loan. Many taxpayers have already received letters from the Internal...
by Pierre Philantrope | Nov 1, 2023 | Tax Tip
This tax tip provides some critical information on how to document expenses during a business travel to claim your tax deduction. Corporation or proprietorship – If you operate as a corporation, the corporation should reimburse you for the travel...
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