Archives for May 2017

In vitro fertilization (IVF) is an expensive medical procedure whereby an egg is fertilized by sperm in a test tube or elsewhere outside the body. An IVF procedure can be tax deductible as a medical … [Read more...] about Know the Tax Rules If Considering In Vitro Fertilization

It is important to learn from the mistakes of others. Detailed documentation of expenses is absolutely vital to sustain a tax deduction. In a recent Tax Court case (Charles F. Schuetze, TC Memo … [Read more...] about Business Owner Denied Repair and Maintenance Expenses

In the Tax Court case of Edgar Brown, several claimed expenses were addressed by the court. We will look at two of them, unreimbursed employee expenses and the home office deductions that were claimed … [Read more...] about IRS Imposes Penalty for Claiming Home Office

As a new business owner, you may find that it takes a couple of years to become established in your market place and to make a profit. While you are operating at a loss and wondering if and when your … [Read more...] about Legitimate Business Loss or Disallowed Hobby Loss

Do you want to reduce your PA personal income taxes? As a PA resident, your contributions to a 529 account may be tax deductible from your PA state income tax. Notice the use of the word “may” … [Read more...] about PA 529 Plan Contributions – Know the Rules