When to Lease Business Equipment Instead of Buying

As things stand now, the tax breaks for buying depreciable business property have been watered down for the 2015 tax year. Consider leasing business equipment instead of buying it. Generally, you can write off the entire cost of leasing without a huge upfront commitment. Also, leasing isn’t forever. If the tax breaks for buying property […]

Tax Deductible Donations Go Further on North Texas Giving Day

As we get closer to the end of the year, charitable organizations and nonprofits start gearing up for year end fundraising, since many people wait until the end of the year to make their tax deductible donations. The holiday season tends to bring out more charitable attitudes of the general public. However, North Texas has […]

Job Search Expenses May be Tax Deductible

People often change their job in the summer. If you look for a job in the same line of work, you may be able to deduct some of your job search expenses. Here are some key tax facts you should know about if you search for a new job: Same Occupation.  Your expenses must be […]

Why File Married Filing Separate?

One of the first questions asked when preparing a tax return is how to file: married filing jointly, or married filing separately? The way the tax code is written, married filing jointly usually results in a lower tax bill than if filed married filing separate. For this reason, the IRS generally advises spouses to file […]