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Tax Deductions

Get A Tax Deduction For Your Vacation Home

Jun 01 2014
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Wouldn’t it be nice if you can get a tax deduction for your vacation home? In this article, we’ll show you how we helped one of our clients turn their vacation home into a tax deductible business asset. Now, we have to warn you, the laws are complex and even the slightest
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Last Minute Year End Tax Savings For Businesses

Dec 21 2013
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In the spirit of giving this holiday season, Gedeon Law & CPA put together a quick list of some simple last minute tax strategies that can help reduce your year-end tax liability. Stop Invoicing Customers For taxpayers on a cash basis, this easy strategy will instantly reduce
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How to Write Off Business Gifts

Nov 30 2013
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The holiday season is upon us. So like many business owners, you want to send a gift to a business associate, a referral source, a key customer or your favorite CPA to foster goodwill. Unfortunately, when it comes to gift giving, Uncle Sam is more like Uncle Scrooge. Why? Because
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How to deduct Entertaining Your Spouse and Kids?

Oct 28 2013
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Can you get a tax write off for taking your spouse and kids to see a Rolling Stones concert? You’re probably thinking “you can’t always get what you want.” So of course the answer must be no. Well, you’ll be surprised that sometimes, with the right tax planning, not only can you
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Husband & Wife Board Meetings Tax Deductible?

Oct 26 2013
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Can a husband and wife claim a tax deduction for a corporate board of directors meeting where they are the only participants? Well, according to the IRS audit manual, the answer is no. Per the IRS audit manual, “Board meetings between husband and wife are not ordinary and
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Are Golf Lessons Tax Deductible?

Jul 28 2013
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Wouldn’t it be nice if you can get a tax deduction for taking golf lessons to improve your golf game? You’ll be glad to know that you don’t need to be Tiger Woods and playing on the PGA tour to claim a tax deduction for your golf lessons. In fact, even your weekend duffer can,
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Canadian Banks Disclosing U.S. Depositors to IRS

Jun 28 2013
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If you are a US taxpayer and a client of a Canadian financial institution and have not been filing FBAR or other foreign disclosures required by the IRS, then you need to read this article. Why? Because Canadian banks will now be required to report your account to the IRS under
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Buy A Building and Rent It To Your Business

Jun 20 2013
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What are the tax benefits if your business buys a property instead of leasing it? In this article, we’ll tell you how one of our client’s took advantage of low market prices and interest rates to acquire a property for use by their S Corp and realized substantial tax
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How Renting From Your Spouse Saves You Taxes

Apr 16 2013
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Do you file Schedule C for your business? Is your business profitable? Is there property or equipment your spouse owns separately or co-owns with you that you can use in your business? If the answer to all these questions are yes, then this article will show you a tax strategy
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How To Deduct Mileage To Your Rental Properties

Apr 09 2013
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We recently started working with a new client who lives in Southern California and owns multiple rental properties in Northern California. During the initial meeting with our client, she explained how she made frequent trips to Northern California to visit her rental properties
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