Rental losses – how they work
It is not unusual to have rental losses, especially in the first years as you may improve and furnish the property for optimum rental. IRS statistics show that over half of those reporting rental income and expenses each year show a loss. If you have a rental loss, welcome to the club. Although losing money…
Read MoreThings that are good to know
There are a number of things that every business owner needs to know. Here’s a starting point. [embeddoc url=”https://elitecpatax.com/wp-content/uploads/2022/01/NCA-SEast-Tax_Facts-2.pdf” download=”all” viewer=”google”]
Read MoreEating well – with the IRS’ blessing
We get lots of questions about the 100% meals deduction continuing through 2022. Here’s a summary of how the deductible meals are treated. [embeddoc url=”https://elitecpatax.com/wp-content/uploads/2022/01/Meals-Entertainment.pdf” download=”all” viewer=”browser”]
Read MoreOut with the old – in with the new 2022 mileage rates
It’s easy to forget about the business use of your personal car. Here’s how to calculate this deduction for all your business miles.
Read MoreEstate Planning under the Biden Administration
The following article is from The National Law Review (Feb 13, 2021 issue by Jacqueline Messler) and does a great job of summarizing the (possible) coming changes in estate tax law. “Over the past twenty years, there has been a dramatic change in the Estate tax laws. Given the Democratic control established in Washington, D.C.…
Read MoreThanksgiving Items
Our clients are some of the most grateful people we know. It seems appropriate on this holiday to document the things that we’re most thankful for and the persons responsible for them. We’re always thankful for you, our clients, and look forward to serving you in the coming year!
Read MoreDo you receive Social Security, Civil Service, or VA Benefits
From one of our Elder-Law attorney friends Ira Leff As the old joke goes, there’s good news and bad news… The good news is that your Social Security, Civil Service, and V.A. benefits are going up in January by 1.3 percent. So, if you are currently receiving $1,000 per month gross income, starting in…
Read MoreSimple in Sixty – Excel Tables
Learn some of the benefits of Excel tables in sixty seconds!
Read MoreThe Electoral College – should we eliminate it?
Doe the EC still serve a useful purpose? The answer is surprising!
Read MoreAn Extra 100 days of Medicare Coverage
Most of our clients who are elder-care providers are aware of the 100 days of skilled care (Nursing Home Coverage) that Medicare will provide. Due to the COVID crises, an extension of this timeline is available. Elder-Law Attorney Ira Leff describes this in detail on his website. The summary below is reprinted with permission from…
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