The Newsroom
Financial and Accounting Updates and Information from Maggart
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From the Monthly Newsletter...
Deducting Charitable Gifts Depends on a Variety of Factors
Whether you’re planning to claim charitable deductions on your return or make donations, be sure you know how much you’re allowed to deduct. Your deduction depends on more than just the actual amount you donate. What You Give Among the biggest factors affecting your deduction is what you give. For example: Cash or ordinary-income property. You …
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Weigh the Tax Impact of Income vs. Growth When Investing
As the tax-filing season heats up, investors have much to consider. Whether you structured your portfolio to emphasize income over growth — or vice versa, or perhaps a balance of the two — will have a substantial impact on your tax liability. Let’s take a look at a couple of the most significant “big picture” …
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Fewer Taxpayers to Qualify for Home Office Deduction
Working from home has become commonplace for people in many jobs. But just because you have a home office space doesn’t mean you can deduct expenses associated with it. Beginning with the 2018 tax year, fewer taxpayers will qualify for the home office deduction. Here’s why. Changes Under the TCJA For employees, home office expenses …
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