The use of a company car is a valuable fringe benefit for business owners and key employees. This perk results in tax deductions for the employer and tax breaks for the owners and employees using the cars. (And of course, they get the nontax benefit of getting a company car.) For tax deduction purposes, a
tax breaks Archives - Crawford Ellenbogen
Dec 21, 2021
Jul 2, 2019
If your kids are off to day camp, you may be eligible for a tax break
- By Ellenbogen
- Taxes
- 0 Comments
Now that most schools are out for the summer, you might be sending your children to day camp. The good news: You might be eligible for a tax break for the cost. Day camp is a qualified expense under the child and dependent care credit, which is worth 20% to 35% of qualifying expenses, up
Jan 3, 2019
A review of significant TCJA provisions impacting individual taxpayers
- By Ellenbogen
- Financial Planning, Taxes
- 0 Comments
Now that 2019 has begun, there isn’t too much you can do to reduce your 2018 income tax liability. But it’s smart to begin preparing for filing your 2018 return. Because the Tax Cuts and Jobs Act (TCJA), which was signed into law at the end of 2017, likely will have a major impact on
Jan 2, 2019
A refresher on major tax law changes for small-business owners
- By Ellenbogen
- Business, Taxes
- 0 Comments
The dawning of 2019 means the 2018 income tax filing season will soon be upon us. After year end, it’s generally too late to take action to reduce 2018 taxes. Business owners may, therefore, want to shift their focus to assessing whether they’ll likely owe taxes or get a refund when they file their returns