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Is a Rent Reduction Tax Deductible?
Image courtesy of user “777546” on Pixabay.com Question from a client who owns a rental property: If I have a renter who’s going through a hard time and I give them a one-month break where they don’t...
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Are Discounts Given to a Not-for-Profit Deductible?
Image courtesy of user “angiechaoticcrooks” on Pixabay.com Question from a client who owns a bar: we have a party room that we rent out to groups for $500. If a not-for-profit wants to rent the room,...
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Deducting Business Charitable Contributions
Image courtesy of Pixabay.com Let’s look at how to account for charitable contributions made through your business. Sole Proprietors Charitable contributions are not deducted on Schedule C and thus do...
View ArticleWill You Get Additional Deductions By Working with a Tax Pro?
Two weeks ago I was poking around on Twitter and saw a discussion among tax pros about how, most of the time, the answer to the question posed in the title is: no! In fact, many times the bottom line...
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