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Tax Tips

Use Two Cars To Maximize Your Tax Deduction

Jan 03 2013
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With the start of the new year, you’re probably wondering what new tax strategies you can implement to help you increase your tax deductions for 2013. In keeping with one of our main goals at Gedeon Law & CPA, we endeavor to help our clients convert as much of their
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How to Deduct Your Commuting Mileage

Dec 21 2012
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For most folks, commuting mileage is a non-deductible expense – unless you know the little tax trick I’m about to reveal. No one enjoys fighting rush hour traffic every day, twice a day, and all you have to show for it is gas money down the drain and wear and tear on
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How To Benefit From Your Charitable Donations

Nov 30 2012
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I recently put together an article on how a business owner can take a tax deduction for renting out their home to their company for a business meeting. You don’t, however, have to be a business owner to get a tax break for renting out your home for a meeting. By reading
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How To Write Off $14,000 To Hold Business Meetings In Your Home

Nov 28 2012
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This little tax tip I’m about to share will let you write off an extra $14,000/year for your business while putting the money in your pocket tax free. At this time of year, you are probably thinking it’s time to hold your annual board of director, partnership or
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Free Download: 2012 Tax Pocket Guide

Nov 25 2012
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Get our 2012 Tax Pocket Guide by clicking the image:
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How To Fully Deduct Your Holiday Party

Nov 13 2012
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It’s that time of year when you’re probably planning your company’s holiday/employee party. Having a holiday party is fun, especially when alcohol is being consumed. Who doesn’t love discussing those embarrassing holiday party moments on Monday morning
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Deduction for Personal Car Used for S Corporation

Nov 07 2012
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So you operate your business as an S corporation. Like many business owners, you probably use your personal car to conduct business for the corporation. Say you make regular sales calls and drive a total of 30,000 miles a year. The car is registered in your own name, not the S
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What you need to know about the new 3.8% Medicare Surtax in 2013

Aug 16 2012
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Beginning with the 2013 tax year, a new 3.8% Medicare “surtax” will likely apply to all taxpayers whose net income exceeds a certain “threshold amount.” This is currently expected to be $200,000 for single taxpayers and $250,000 for married taxpayers
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Health Savings Account (HSA) Payments By S Corporation

Aug 09 2012
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S Corporations (Corp) produce several tax benefits as compared to sole proprietorships, partnerships, and C corporations. The big benefit, and the one that people usually talk about, is the payroll tax savings. Using an S Corp for your business can also carry tax detriments. With
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Do You Need To Keep Expense Receipts?

Aug 05 2012
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A business client of mine recently went through an IRS audit and was worried he hadn’t kept all the receipts for his business expenses. Does my client need a receipt for all his business expenses? Not necessarily, according to the IRS regulations. In fact, the IRS makes an
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