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Archive for July, 2014

Deducting your vehicle donation

If you donate your motor vehicle, boat, or airplane to a qualified charity & itemize deductions, you can generally claim a handsome charitable donation deduction on your federal tax return. A few examples that illustrate how this affects the final deduction, and the records you need.

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Three things to know about the FBAR

As a U.S. citizen, you may have to file an annual “Report of Foreign Bank and Financial Accounts” (FBAR) with the U.S. Treasury Department. Existence of such an account or accounts must be reported on schedule B of IRS form 1040, as well as interest earned from such accounts. Make an appointment with us at […]

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