Archive for tax deduction – Page 3

FINANCIAL WINDFALLS

| November 1, 2016 | 0 Comments

During the year you may have been the recipient of unexpected funds (money!!!).  Some are from a good fortune; others are from an unfortunate incident. If you have been involved in one of these situations there are tax consequences to consider.  Some are short term (in the current year); others will impact you long term. […]

BUSINESS OR HOBBY? DO YOU KNOW THE DIFFERENCE?

| September 14, 2015 | 0 Comments

We all enjoy hobbies OR, at least, I hope you have a an interest that you can pursue that  makes your life bearable.  Maybe I should use the term “makes your life interesting”. Hobbies are activities that you do for pleasure NOT for profit.  Hobbies include collecting, craft making and horse breeding/racing to address a […]

HOW TO GET OUT AND STAY OUT OF DEBT

| June 10, 2012 | 0 Comments

A major problem in our society today is DEBT.  It effects all of us directly or indirectly.  It keeps us up at night, tears families apart and creates havoc in our lives. While most of us can’t avoid debt; we can manage it by following these basic rules:   Spend Less Than You Earn – […]

DEDUCTING CHARITABLE DONATIONS – WHAT YOU NEED TO KNOW

| May 7, 2012 | 0 Comments

Deducting Charitable Contributions may help reduce you tax burden if you keep good records and have the information that is needed should you be audited.  A legitimate deduction must be given to a qualified organization.  You CANNOT claim a deduction made to a specific individual, political organizations or candidates. To use this deduction you must […]