Can You Pay Bonuses in 2017 but Deduct Them This Year?

December 6, 2016

You may be aware of the rule that allows businesses to deduct bonuses employees have earned during a tax year if the bonuses are paid within 2½ months after the end of that year (by March 15..

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Ensure Your Year-End Donations Will Be Deductible on Your 2016 Return

November 29, 2016

Donations to qualified charities are generally fully deductible, and they may be the easiest deductible expense to time to your tax advantage. After all, you control exactly when and how much you g..

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There’s Still Time to Benefit on Your 2016 Tax Bill by Buying Business Assets

November 28, 2016

In order to take advantage of two important depreciation tax breaks for business assets, you must place the assets in service by the end of the tax year. So you still have time to act for 2016. ..

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Accelerating Your Property Tax Deduction to Reduce Your 2016 Tax Bill

November 22, 2016

Smart timing of deductible expenses can reduce your tax liability, and poor timing can unnecessarily increase it. When you don’t expect to be subject to the alternative minimum tax (AMT) in t..

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Year-End Tax Strategies for Accrual-Basis Taxpayers

November 21, 2016

The last month or so of the year offers accrual-basis taxpayers an opportunity to make some timely moves that might enable them to save money on their 2016 tax bill. Record and Recognize ..

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