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FAQ: Are donations of used vehicles still fully deductible?

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FAQ: Are donations of used vehicles still fully deductible?

In recent years, the IRS has been cracking down on abuses of the tax deduction for donations to charity and contributions of used vehicles have been especially scrutinized. The charitable contribution rules, however, are far from being easy to understand. Many taxpayers genuinely are confused by the rules and unintentionally value their contributions to charity […]

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How do I? Compute deductible investment expenses

Deductible investment expenses fall into three basic categories: (1)  Expenses that are directly deductible against particular items of income, without reduction; (2)  Expenses of producing income that are taken as miscellaneous itemized deductions; and (3)  Investment interest expense. The first category applies to rent and royalty income. Expenses attributable to rents and royalties may be […]

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Retirement plan loans as a source of ready cash—the pros and cons

Although it is generally not considered prudent to withdraw funds from a retirement savings account until retirement, sometimes it may appear that life leaves no other option. However, borrowing from certain qualified retirement savings account rather than taking an outright distribution might prove the best solution to getting you through a difficult period. If borrowing […]

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Steps to qualify for bonus depreciation before year-end 2012

The tax code provides for 50 percent first-year bonus depreciation for 2012. If property qualifies for bonus depreciation, the taxpayer can deduct 50 percent of the cost of the property in 2012. This can help a business bear the cost of investing in needed equipment, as well as facilitate cash flow and provide operating funds […]

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Year-end tax planning moves forward with or without Congress

The fate of many of the tax incentives taxpayers have grown accustomed to over recent years will likely remain up in the air until Congress and the Administration finally face off weeks before year-end 2012. While the results of Election Day will have bearing on the outcome, no crystal ball can predict how the ultimate […]

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Tip: Stretch Your Marketing Budget

Most small business owners have to make every dollar in their marketing budget count. Easier said than done in a world that offers such a variety of high-tech and traditional marketing tools. Maximizing the value you get from your investment often depends on your willingness to plan ahead, learn from past mistakes, and to develop […]

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Technology: Do You Really Need the New iPhone5?

The question is academic for the throngs who camped outside Apple stores to get their hands on the Apple’s latest smartphone – but do you really need the new iPhone5. First of all, improvements in smartphones have been incremental rather than earth-shattering since the 2007 launch of the first iPhone, which did change the game […]

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Take Advantage of Extended Low Interest Rates

The Federal Reserve recently announced it would keep the federal funds rate at 0 percent to 0.25 percent at least through mid-2015. This nearly three-year timeline presents an excellent opportunity for Americans – both consumers and business owners alike. Low interest rates make money less expensive to borrow and therefore increase the money supply available […]

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Stock Market: A Sunny September

Worries calmed in Europe, good news on the domestic real estate front, and the Federal Reserve continuing policies to bolster employment and growth were all key factors in the stock market’s healthy performance in September. Here’s an overview of what’s behind that optimism. Please bear in mind the following is intended to provide general information […]

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Why Do Small Businesses Fail?

According to the U.S. Small Business Administration, more than half of entrepreneurships fail within the first five years of existence. Former small business owners cite a litany of reasons why their business didn’t make it, usually ranging from complaints about banks and the government to their allegedly incompetent partners. Although some of these reasons are […]

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