Deducting Charitable Gifts

by | May 1, 2016 | Blog

Charitable donations usually can be deducted on Schedule A of Form 1040, along with other itemized deductions. You should have the required support materials, in case your charitable deduction is questioned. This article will cover the rules on cash contributions:...

TJT Human Resources Services

by | Feb 23, 2016 | Blog

Thomas, Judy & Tucker recently welcomed Lorilynn Spronk to the Outsourced Accounting Services division. This division of the firm provides a full-range of accounting and human resources (HR) services, customized to fit the specific needs of your business. ...

Deducting Interest Paid

by | Feb 20, 2016 | Blog

Among the itemized deductions on Schedule A of Form 1040, you’ll find “Interest You Paid.” As you get your records together for tax preparation, you should realize that not all interest can be deducted on your return. Interest you paid last year on credit card debt...

The IRS May Put You on Hold

by | Feb 1, 2016 | Blog

During the tax preparation season, business owners, individual taxpayers, and CPAs may have questions for the IRS. If you need to call the agency, be prepared for a long wait. Increased tax code complexity plus budget cuts have resulted in frustrating experiences for...

End of Year Charitable Tax Planning

by | Dec 8, 2015 | Blog

The end of the year typically is a time for making charitable donations. If that’s your practice, consider contributing shares of appreciated stocks or stock funds instead of cash. As long as the shares have been held longer than one year, you’ll get a full tax...