Hire Your Children and Save a Bundle on Taxes

If your children go to private school, is their tuition tax deductible? The answer is no. If your teenager goes to summer camp, would the cost be deductible? Again, the answer is no. If you were to pay for your daughter’s college or wedding expenses, would you be able to write-off these costs on your […]

Three Steps To Take So You Won’t Miss Out on Meals and Entertainment Deductions

Real estate agents and self-employed individuals miss out on thousands of dollars in meals and entertainment deductions because their record-keeping has holes in it, or their accountant is too conservative and hesitates to take legitimate deductions. Here’s three simple steps to take to maximize your legal deductions in this area. 1. Respect the IRS–don’t fear […]