Monthly Archives: June 2017

Over 50? Your Savings Gets Better With Age

Wisdom isn’t the only benefit you get with age. Starting the year you turn 50, you can make these additional “catch-up” contributions towards your retirement accounts: Up to $6,000 more for 401(k), 403(b), SARSEP, or governmental 457(b) Up to $3,000

Posted in 2017 Mid-Year Newsletter

This Year’s Most Interesting Tax Season Observations

by Andrew D. Schwartz, CPA, Founder of The MDTAXES Network At some point during each tax season, there is a moment when I notice a recurring trend or theme that is unique and fascinating to that specific tax season. So what

Posted in 2017 Mid-Year Newsletter

With the summer travel season nearly upon us, here are some tips and rules about deducting business travel expenses: Travel expenses are the ordinary and necessary expenses of traveling away from home for your business, profession, or job. You are traveling

Posted in 2017 Mid-Year Newsletter

Buying a New Fuel-Efficient Car in 2017?

The IRS still offers tax credits up to $7,500 on all-electric and plug-in hybrid cars that you would claim on your 2017 tax return. The vehicle must: weigh less than 14,000 pounds, have at least four wheels, be propelled to

Posted in 2017 Mid-Year Newsletter

Save Yourself $125 or More Next Tax Season If You Have Working Kids

The IRS wants to help parents of working children avoid the headaches and costs of preparing tax returns for their kids who won’t earn enough to be taxed.  All you need to do is have your child write the word

Posted in 2017 Mid-Year Newsletter