Action May be Needed by Year-End Article Highlights: Tax Loss for a Security Sold or That Is Worthless Proving Worthlessness Selling a Worthless Stock by Year-end Brokers May Accommodate Clients Capital Loss Deduction If you are like most investors, you occasionally will pick a loser that declines in value. Sometimes, a security can even become [...]
Article Highlights: Actions You Can Still Take to Reduce Your 2016 Tax Bite Actions Must Be Completed Before the End of 2016 When Contributions by Check, Text-message or Pay-By-Phone Accounts Are Considered to Be Made Deductible Expenses Paid by Credit Card Are Deductible In The Year Charged Just a reminder that the last day you [...]
Article Highlights: • Zero Capital Gains Rate • Offset Gains With Losses • Wash Sales If you invest in publicly traded securities, here are a couple of tax-saving possibilities you shouldn’t forget to consider before year-end. Zero Capital Gains Rate - If you are having a low-income year, there may be a way for you [...]
Article Highlights: Sec 179 Expensing Expensing Safe Harbor Per Item or Invoice First Year Bonus Depreciation Leasehold Improvements Businesses seeking to increase deductions by acquiring machinery and equipment before year-end have an impressive array of tools to work with: Generous, up to $500,000, expensing under IRC Sec. 179, A liberal, up to $2,500, expensing safe [...]
