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  Automobiles used for business are subject to strict limits on how much you deduct each year.  However, vehicles with a Gross Vehicle Weight rating of 6,000 or more are exempt from these auto limitations.   They can expense $ 25,000 under code section 179 and take the normal annual depreciation of the additional value.    […]

Tax Tips for Parents with Disabled Children

Do you have a child with a disability? If so, there may be income tax deductions, exemptions or credits available to you. Some of the available income tax benefits are unfamiliar even to tax preparers, and some of the favorable treatment options are available to people who provide care for other family members, as well. […]

Home Office = Driving for Dollars

Small-business owners, entrepreneurs and employees who work from home could save big money on their taxes by taking a home office deduction, as long as they meet the IRS’ requirements and keep good records. If you use part of your home regularly and exclusively for business-related activity, the IRS lets you write off associated rent, […]