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Recent posts
- QuickBooks services for version 2010 to be discontinued May 31, 2013
- Top 6 Reasons You Should NOT File for An Extension on Your Tax Return
- Minnesota Slams Turbotax and Other Intuit Products over Tax Filing Software Problems
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- Has Your 2012 Roth-Converted IRA Declined in Value?
- Alarming New IDES Audit Policy!
- Another Tax Scam
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- IRS Encourages Taxpayers to Limit Use of “Where’s My Refund”
- Prepared for the New Surtax?
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
Posted in Ask Steve
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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
Posted in Ask Steve, Charitable Donations, Personal Taxes
Tagged Charitable donations
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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
Posted in Ask Steve, Bookkeeping, Business taxes, Record keeping
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