Category Archives: Ask Steve

Ask Steve: When are expenses deductible?

Here’s a good question from a client concerning when expenses are deductible. “When we incur expenses in December 2012 but are not billed for them until January 2013, or I pay a December expense in January, is that deductible in … Continue reading

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Are out-of-pocket expenses for charities deductible?

Here’s a question from a client about whether or not expenses they incur while volunteering for a charitable organization are deductible. My wife has begun volunteering for a religious organization which operates under the 501c3 status of their church denomination. Her … Continue reading

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Posted in Ask Steve, Charitable Donations, Personal Taxes | Tagged | 1 Comment

New Business – What to Deduct

I was posed with this question recently, one that I frequently get when someone starts a new business in Illinois. Q: “I just started a new business and want to start keeping track of things for next year’s taxes. What … Continue reading

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Posted in Ask Steve, Bookkeeping, Business taxes, Record keeping | Leave a comment