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Tax Deductions

Tax Deduction For Your Child’s Education

Apr 02 2013
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Recently, one of our clients contacted us about hiring her daughter to work in her business. Her daughter is currently in college and our client was curious if she could claim her daughter’s education costs as a business expense. My client’s daughter is 21 years old
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13 Year End Tax Planning Tips

Mar 04 2013
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As we enter the last quarter of the year, it’s a good time for business owners to start thinking about year-end tax planning opportunities for 2012 and to start planning for the following tax year when it comes to growing cash flow, structuring business operations and
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How to Get A Tax Deduction For Your Dry Cleaning

Feb 25 2013
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Most people know the IRS generally doesn’t let you take a tax deduction for dry cleaning your clothes. But if you are lucky enough to travel frequently on business, then the IRS gives you an opportunity to claim a tax deduction for dry cleaning as a travel expense. Case in
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US Tax on Your Canadian Investments

Feb 18 2013
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Canadian residents who emigrate from Canada are generally deemed to have disposed of their capital property equal to the fair market value on the date of emigration, with any resulting gain or loss subject to Canadian tax (“Departure Tax”). For Canadians emigrating to
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Get A Big Tax Write Off Playing Golf

Feb 14 2013
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The March 2, 2013 Celebrity Golf Classic event hosted by the Canada-California Business Council (CCBC) to benefit the March of Dimes Canada and ProCon.org will not only benefit two great charities but also counts as a 100% entertainment tax write off for golfers and spectators.
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New Simplified Home Office Deduction

Feb 12 2013
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The IRS has recently announced a simplified option that many owners of home-based businesses and some home-based workers may use to figure their deductions for the business use of their homes. Beginning with returns for 2013, which will be filed in 2014, taxpayers can write-off
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Let Your Business Pay For Your Child’s College Nest Egg

Jan 30 2013
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Wouldn’t it be nice if your business can take a tax deduction for funding your child’s college education? Well, if your child is older than 6 years old, then this article will show you how Uncle Sam can help subsidize junior’s college education. Moreover,
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Convert Your Air Miles into a Business Expense

Jan 25 2013
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So I’ll be flying to Australia in the coming months on business. Over the years, I’ve been accumulating a lot of frequent flier miles with Qantas. This upcoming trip got me thinking. Is there a way my corporation can take a tax deduction if I use my frequent flier
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How to Write off Your Super Bowl Party

Jan 22 2013
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It’s that time of year again when people are starting to plan their Super Bowl parties. That got us at Gedeon Law & CPA thinking, how can our business clients claim a tax deduction for spending time with friends and family while watching over-hyped commercials and
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How To Give Yourself (& Your Employees) Tax-free Lunches

Jan 10 2013
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With the right tax planning, you can provide tax-free lunches to you and your employees. As a rule, to deduct the cost of the lunches, the lunches must be furnished to the employees on the business premises by the employer for the convenience of the employer. Convenience of the
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Testimonials

“I called Marc to ask some very specific questions regarding taxation issues for Canadians living in the US.Marc was extremely friendly and answered a… Read more

 Shan W., Los Angeles, CA
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