by David Raye | Aug 21, 2020 | Lower Your Tax Bill, Uncategorized
I hope you and your families are doing well and staying safe & healthy! One of the deductions that was eliminated with the Tax Cuts and Jobs Act of 2017 was the home office deduction. Prior to TCJA, employees could deduct from their income a portion of expenses...
by David Raye | Dec 10, 2019 | Lower Your Tax Bill
As the end of the year approaches, you may be looking for ways to lower 2019 taxes. With the stock market near record highs, you may also be sitting on significant unrealized capital gains. This may be the perfect time to turn your investments into tax deductions....
by David Raye | Jul 7, 2018 | Lower Your Tax Bill, Tax Policy & Legislation
Everyone hates the Alternative Minimum Tax or AMT. The AMT requires that you calculate your tax bill under a different set of rules and deductions, compare that number to your regular tax, and pay the larger of the two. This decades-old measure was originally enacted...
by David Raye | Jul 7, 2018 | Lower Your Tax Bill, Tax Policy & Legislation
An investment vehicle that may be worth a second look in the wake of tax reform is Real Estate Investment Trusts or REITs. REITs are corporations that primarily invest in real estate and produce income from rental properties or from buying and selling properties. ...
by David Raye | Feb 7, 2018 | Lower Your Tax Bill, Tax Policy & Legislation
Tax revenue losses from the various exclusions, exemptions, deductions and credits that exist in the tax code are generally defined by the federal government as tax expenditures. The following is a list of the 10 largest individual tax expenditures according to the...
by David Raye | Jan 20, 2017 | Charitable Donations, Lower Your Tax Bill
Another method of donating to charity in a tax favored way is the donor-advised fund. A donor-advised fund qualifies as a tax-exempt charity and therefore money can be placed in these accounts for an immediate income tax deduction. These funds can grow tax free and...
