Month: January 2013

One area of tax rules that we get most of our questions on is the use of a car - what's deductible, how it's calculated, and which is better - buy vs. lease.   That being said, let me explain it here for you as a reference.   There are two calculations - 1) Standard Mileage Rate Method and 2) Actual Cost - that get performed to determine a deduction for auto use and you take the

Read more 0

As you start to see your tax docs arriving in your mailbox or email Inbox, here's a little tax humor to start "The Season"... A man wrote a letter to the IRS: “I have been unable to sleep knowing that I have cheated on my income tax. I understated my taxable income and have enclosed a check for $200.00. If I still can’t sleep, I will send the rest.”

Read more 0