Adam’s Tax Blog

Note: Tax advice, articles, and content contained on this site are intended for informational and educational purposes only. They are not a substitute for professional advice. Tax matters are can be extremely complex and vary greatly for each individual or company. Please click here to read our complete disclosure and disclaimer for the information presented on this site.

What You Need To Know About Estimated Tax Payments

What You Need To Know About Estimated Tax Payments

Paying the proper amount of tax by the annual federal income tax filing deadline isn’t enough to avoid interest and penalties; you must also meet requirements for paying tax throughout the year through withholding and/or quarterly estimated tax payments. If you have...

read more
3 Strategies For Tax-smart Giving

3 Strategies For Tax-smart Giving

Giving away assets during your life will help reduce the size of your taxable estate, which is beneficial if you have a large estate that could be subject to estate taxes. For 2016, the lifetime gift and estate tax exemption is $5.45 million (twice that for married...

read more
Should You Make A “Charitable IRA Rollover” In 2016?

Should You Make A “Charitable IRA Rollover” In 2016?

Last year a break valued by many charitable retirees was made permanent: the charitable IRA rollover. If you’re age 70½ or older, you can make direct contributions ( up to $100,000 annually) from your IRA to qualified charitable organizations without owing any income...

read more
3 Mutual Fund Tax Hazards To Watch Out For

3 Mutual Fund Tax Hazards To Watch Out For

Investing in mutual funds is an easy way to diversify a portfolio. This is one reason why they’re commonly found in retirement plans such as IRAs and 401(k)s. But if you hold these funds in taxable accounts, or are considering such investments, beware of these three...

read more
Still Time For Homeowners To Save With Green Tax Credits

Still Time For Homeowners To Save With Green Tax Credits

The income tax credit for certain energy-efficient home improvements and equipment purchases was extended through 2016 by the PATH (Protecting Americans from Tax Hikes) Act of 2015. So, you still have time to save both energy and taxes by making these eco-friendly...

read more
Lower Gas Costs = Lower Business Driving Tax Deductions

Lower Gas Costs = Lower Business Driving Tax Deductions

This year, the optional standard mileage rate used to calculate the deductible costs of operating an automobile for business went down. Why? Since gas prices are lower than last year, the cost of driving is less and therefore so is the deduction. This year’s rate...

read more
Can You Claim A Home Office Deduction For Business Use?

Can You Claim A Home Office Deduction For Business Use?

You might be able to claim a deduction for the business use of a home office. If you qualify, you can deduct a portion of expenses, including rent or mortgage interest, depreciation, utilities, insurance, and repairs. The exact amount you can deduct depends on how...

read more