by briesterer@thinkvisionary.com | Feb 8, 2024 | Individuals, Newsletter
If you’re preparing to file your 2023 tax return, you may still be able to lower your tax bill – or increase your refund. If you qualify, you can make a deductible contribution to a traditional IRA right up until the original filing deadline, April 15,...
by briesterer@thinkvisionary.com | Feb 7, 2024 | Individuals, Newsletter
If you’re like many Americans, your mailbox may have been filling up in recent weeks with letters from your favorite charities acknowledging your 2023 donations. But what happens if you haven’t received such a letter for a contribution? Can you still claim...
by briesterer@thinkvisionary.com | Feb 6, 2024 | Business, Newsletter
QBI may sound like the name of a TV quiz show. But it’s actually the acronym for “qualified business income,” which can trigger a tax deduction for some small business owners or self-employed individuals. The QBI deduction was authorized by the Tax...
by briesterer@thinkvisionary.com | Feb 5, 2024 | Business, Newsletter
If you and your employees will be traveling for business this year, there are many factors to keep in mind. Under the tax law, certain requirements for out-of-town business travel within the United States must be met before you can claim a deduction. The rules apply...
by briesterer@thinkvisionary.com | Jan 5, 2024 | Individuals, Newsletter
The 2023 individual income tax return filing season will open soon. Even if you typically don’t file until much closer to the April 15 deadline (or you file for an extension), consider filing earlier this year. Why? You may be able to protect yourself from tax...
by briesterer@thinkvisionary.com | Jan 4, 2024 | Business, Newsletter
If eligible, you can elect to use Section 179 expensing or bonus depreciation to deduct a large portion of the cost (and in some cases the full cost) of eligible property in the year it’s placed in service. Alternatively, you may follow regular depreciation...
