» Tax Deductions

Miniature model house on a calculator on white background

When Are Rental Real Estate Losses Not Deductible?

Many U.S. taxpayers find themselves as landlords even while working full time in another industry. When the cost of owning a rental property starts to add up, you may wonder whether those costs can help offset your income on your U.S. tax returns. A… Read More
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Categories: Tax Deductions
Businesswoman working finance with calculator in office.

Will Reasonable Reliance on Tax Professionals Save You in an Audit?

When taxpayers hire accountants to help prepare their tax returns, they expect it to be done right, and to save them from audits. But sometimes the quality of that product is limited by the information the taxpayers themselves provide. A recent Unite… Read More
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Hobby business - tax deductions concept

Can You Take Deductions for Your Hobby Business?

These days, many U.S. taxpayers have a side gig they use to supplement their income and pursue their passions. Sometimes, these activities can come with significant expenses. You may wonder whether creating a business entity will provide tax relief.… Read More
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real estate transfer taxes

Buyer Beware: Court Refuses to Rule on Real Estate Transfer Tax Withholding Question

Could a question over taxes sink a complicated real estate transaction with a foreign investment company? When taxpayers Eric and Audra Gilbert asked the Arizona courts to weigh in on their right to withhold taxes under the Foreign Investment in Real… Read More
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Categories: Tax Deductions, Tax News
Expat man on balcony thinking about Tax Cuts and Jobs Act

U.S. Tax Cuts and Jobs Act Brings Changes: What That Means for Expats

President Donald Trump made tax reform a part of his campaign. He promised to simplify the U.S. tax code and reduce tax burdens, particularly on corporations and small businesses. On December 22, 2017, after months of intense debate in Congress, Trum… Read More
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Homes Damaged by Hurricane Harvey

Hurricanes & Natural Disasters: What You Need to Know About Casualty Deductions

Hurricane Harvey and Hurricane Irma have rocked the southern states over the past weeks. Hundreds of thousands of people are returning to find their homes and businesses damaged, even destroyed. They may be able to use casualty deductions to offset s… Read More
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Categories: Tax Deductions