Category Archives: Deductions

Kids in Camp? Get Credit for that

Posted on July 16, 2014 by Andrew Schwartz, CPA

Kids in camp? Make sure you get credit for child and dependent care this summer. Here are the IRS Tips to “Get Credit for Child and Dependent Care This Summer”: IRS Special Edition Tax Tip 2014-16, June 11, 2014 Many parents … Continue reading →

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IRS DECREASES MILEAGE RATE FOR 2014

Posted on January 16, 2014 by Andrew Schwartz, CPA

The IRS announced that the standard mileage rate will decrease to 56 cents per business mile driven in 2014.  That is a decrease of approximately 0.9% over the 56.5 cents allowed in 2013.  According to the IRS, “The standard mileage … Continue reading →

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Deducting Un-reimbursed Professional Expenses

Posted on December 18, 2013 by Andrew Schwartz, CPA

According to the IRS, to be deductible, an expenditure must be both “ordinary” and “necessary” in connection with your profession.  The IRS defines “ordinary” as common and accepted in a particular profession and “necessary” as helpful and appropriate for a … Continue reading →

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DONATE ITEMS FOR DEDUCTIONS

Posted on November 13, 2012 by Andrew Schwartz, CPA

Now is a great time to make semi-annual donation of clothing and household items to charitable organizations. Don’t forget to make a list, including each item’s condition, since only items “good or better” qualify for deduction. Or, track your donation using the App UDoGood. … Continue reading →

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Tuesday Tip: Spring Clean and Donate

Posted on May 15, 2012 by Andrew Schwartz, CPA

When Spring cleaning, keep in mind it’s a good time to make semi-annual donation of clothing and household items to charitable organizations (and maximize this tax deduction using UDoGood.)

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HAVE YOUR WORKING CHILDREN CLAIM “EXEMPT” ON THEIR W-4 FORMS

Posted on March 15, 2012 by Andrew Schwartz, CPA

by Andrew D. Schwartz, CPA I graduated from Wharton in 1987. For those of you keeping score at home, that means I’ve been working at my practice for a score and a quarter. Now that I’ve been practicing for twenty-five … Continue reading →

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AMT on ABCNews

Posted on February 9, 2012 by Andrew Schwartz, CPA

Andrew was recently interview for an ABC News feature on the AMT.  You can catch the full article on: http://abcnews.go.com/Business/taxes-dreaded-amt-returns/story?id=15539522  

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Questions about Deducting Mileage?

Posted on February 7, 2012 by Andrew Schwartz, CPA

Hear Andrew’s “Ask the Expert” reply on Quantia MD”s website: https://secure.quantiamd.com/player/vndpxprm?cid=1401&partner=ssa&m=011912_103225_ssa

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IRS ANNOUNCES NO INCREASE TO STANDARD MILEAGE RATE FOR 2012

Posted on January 14, 2012 by Andrew Schwartz, CPA

The IRS announced that the standard mileage rate will remain at 55.5 cents per business mile driven in 2012.  Remember, the mileage rate jumped to that level on July 1, 2011, up from $.51 per mile at the start of … Continue reading →

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