Holiday season encourages charitable giving. If you give a gift to your favorite charity and want to claim it as a tax deduction, consider these tips before you make a donation. Give to qualified charities. Gifts that are given to charities that aren’t qualified cannot be...
A recent IRS announcement stated that it will raise the deductible amount from $500 to $2,500 for purchases of tangible property by taxpayers without applicable financial statements. After receiving more than 150 comments advocating that the limit on deductions for purchases of property should be...
When you turn 65, the way you file taxes changes. Consequently, it may not be a bad idea to brush up tax policy to see how you can benefit from tax issues brought on from Social Security and IRA withdraws. Here are some tax filing basics...
There is a budget deal moving quickly through Congress that would put an end to a monetarily successful strategy for couples known as “file-and-suspend”. This strategy is a loop-hole of sorts that can boost lifetime Social Security retirement benefits by hundreds of thousands of dollars. The...
By now, you have probably heard some piece of information surrounding the Department of Labor’s (DOL) proposed overtime rule changes. While the DOL’s comment period ended on September 4, several sources seem to indicate a high likelihood that a final rule could be issued either...
For several months, the Federal Reserve Board has hinted that it will begin to raise the target range for the federal funds rate when it sees progress toward its objectives of maximum employment and 2 percent inflation. Many experts believe that rate hikes are likely...
Summer has officially ended and the team at Blackman & Sloop are gearing up for a busy fall. Here are just some of the new things and fun events happening "In the Firm"...
If you travel internationally for business or pleasure, you may already know that magnetic strip credit cards are consider something of an anachronism in many other countries. Offering a magnetic strip card when making a purchase in Europe or Canada frequently requires the business owner...
