TAX PRO PLUS LA

Last-Chance Opportunity to Deduct General Sales and Use Taxes?

For 2011, taxpayers have the option of deducting the amount of state and local income tax that they paid during the year or, if they so elect, of deducting their state and local general sales and use taxes as an itemized deduction on their federal income tax return. This choice is currently scheduled to expire at the end of 2011.

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Is a Home Office Right for You?

In the current business environment many smaller firms are looking for ways to cut costs. One such possible move would be to relocate from rented office space to a home office. With today’s modern means of communications and virtual marketplace this may be an appropriate consideration for your business.

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The IRS Is Attacking the Medical Marijuana Business

Generally a business can deduct normal business expenses such as rent, payroll, etc. However, the IRS is using an obscure section of the code passed during the Reagan Administration as part of the “War on Drugs” to deny normal business expenses to medical marijuana-related businesses.

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Last Year for Tax-Free Charitable Donations from IRAs

If you are 70.5 years of age or older and are considering making a donation to a charity, you may wish to consider the option of making the contribution from your IRA account.

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Tax Tips for Job Seekers

If you are unfortunate enough to be out work, you may be spending time attending career fairs and traveling around looking and interviewing for employment. Some of the expenses you incur attempting to secure employment may be deductible on your tax return.

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