Search Results for: tax deduction

Tax Deductions for Scuba Diving

  Article reprinted with the permission of W. Murray Bradford, CPA   QUESTION:  I sell property and casualty insurance in Florida. I also like to scuba dive. I would like your opinion on whether or not the following is deductible. I  spent five hours with a prospect. First we went on a dive, then we […]

Do Motor Scooters Qualify for the New Sales and Excise tax Deduction?

The American Recovery and Reinvestment Act of 2009 provides a deduction for state and local sales and excise taxes paid on the purchase of qualified vehicles from February 17th, 2009 through the end of the year. The deduction does not require a taxpayer to itemize and is means tested (phases out for single filers with […]

Sales Tax Deduction for Vehicle Purchases

The American Recovery and Reinvestment Act of 2009 provides a deduction for state and local sales and excise taxes paid on the purchase of new cars, light trucks, motor homes and motorcycles through 2009. The deduction is available regardless of whether a taxpayer itemizes deductions on Schedule A. Purchases before Feb. 17, 2009, are not […]

Sales Tax Deduction

Today TaxMama hears from Milton in Florida with this question. “I’m trying to gather all my General Sales Taxes together. I’m also liable for a Florida Power & Light Co. utility bill in which they itemize a cost to me from something called a Gross Receipts Tax. Can I lump this in with my state […]

CCH Identifies 10 Deductions That Make It Easy to Reduce Your Taxes

Courtesy of CCH – they write some of THE best material! (RIVERWOODS, ILL., February 17, 2011) – Whether you itemize or take the standard deduction, there are plenty of above-the-line deductions that can mean even greater tax savings, according to CCH, a Wolters Kluwer business and the leading global provider of tax, accounting and audit […]

TaxMama’s® TaxQuips Should you Consult a Tax Pro

  It’s TaxQuips time from TaxMama.com® . Today TaxMama® wants to talk to you about some questions people have asked TaxMama® after making major financial moves and ending up with extra taxes – or none of the tax breaks they were counting on.     Dear Family, Well, we’ve survived the April 18th deadline! Many […]

TaxMama’s® TaxQuips Important Considerations for Your 2022 Tax Return

  It’s TaxQuips time from TaxMama.com® .  Today TaxMama® wants to alert you to issues that will affect your tax return filing, and perhaps tax planning, during 2023                Dear Family, Where does the time go?! Sorry to be posting so late – but the days just seem to flash […]

TaxMama® Tax Update 2022-2023 – IPASS

  TITLE:  TaxMama® Tax Update 2022-2023 Subtitle: Summarizing the many Tax Acts related to 2022 – including 2022 and 2023 data for tax preparation and planning Speaker: Eva Rosenberg, EA, CTC, CTRS Webinar – using Zoom: Date: December 13, 2022 Time: 3:00 pm – 6:00 pm Pacific (Mountain: 4 – 7 PM MT / Central: […]

TaxMama® Tax Update 2022-2023

  TITLE:  TaxMama® Tax Update 2022-2023 Subtitle: Summarizing the many Tax Acts related to 2022 – including 2022 and 2023 data for tax preparation and planning Speaker: Eva Rosenberg, EA, CTC, CTRS Webinar – using Zoom: Date: December 13, 2022 Time: 3:00 pm – 6:00 pm Pacific(Mountain: 4 – 7 PM MT / Central: 5 […]

TaxMama’s® TaxQuips Flaw in the Tax Law – Casualties

    It’s TaxQuips time from TaxMama.com® . Today TaxMama® wants talk to you about a big flaw in the current tax laws.         Dear Family, It’s summer! Can you believe the year is going by so quickly? The past month has been a whirlwind with teaching, taking classes and even going […]