De Minimus Benefits

De Minimus Benefits
 

De Minimus Benefits Any property or service with a relatively low value is excluded from tax on employees – including owners and partners. This includes occasional meals or supper money, local transportation when working late, holiday or birthday gifts, occasional sporting event tickets and tradit...

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Contributions – Art Appreciation

Contributions – Art Appreciation
 

Contributions – Art Appreciation Appreciate Your Art Appreciation If you donate art purchased years ago that has appreciated significantly, get the highest deduction available. Here’s what we mean: There are a number of requirements to write off the full market value of the art you contribut...

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Medical Expenses – Travel Conferences

Medical Expenses – Travel Conferences
 

Medical Expenses – Travel Conferences Medical Conference Registration Fees Are Deductible As Medical Expense. Meals and Lodging At Conference Are Not. A parent has a child who suffers from a chronic disease. At the recommendation of the child’s physician, the parent attends a conference sp...

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Automobile Commuting Rules

Automobile Commuting Rules
 

Automobile Commuting Rules Thanks to an IRS ruling, you may be able to claim deductions for daily transportation expenses that were treated as nondeductible personal commuting expenses in prior years. The ruling significantly eases the deduction rules for taxpayers who travel between home and tempor...

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Escape The Home Office Trap By Electing Sub S Status

Escape The Home Office Trap By Electing Sub S Status
 

Escape The Home Office Trap By Electing Sub S Status If you’re self-employed and work from your home, there’s a simple way to sidestep a potential tax trap involved in future home sales. All you have to do is adopt the S corporation form of doing business. When you operate your business as an S ...

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Deducting Your Computer

Deducting Your Computer
 

Deducting Your Computer Computers are considered “listed property,” or assets used for both business and personal applications. Under the rules, if you use a computer more than 50% for business, you’re allowed to expense that percentage under Section 179 immediately or depreciate it us...

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Write Off Your Swimming Pool

Write Off Your Swimming Pool
 

Write Off Your Swimming Pool You can deduct the cost of an in-ground swimming pool as a medical expense if your doctor prescribes swimming to alleviate a family member’s medical ailment. (Cherry, TC Memo 1983-470). The amount of the deduction is equal to the cost of the pool minus the increase in ...

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Psychoanalysis Deductible As A Business Expense – Not As A Medical Expense

Psychoanalysis Deductible As A Business Expense – Not As A Medical Expense
 

Psychoanalysis Deductible As A Business Expense – Not As A Medical Expense The IRS acquiesced to a Tax Court decision (Jose P. Iglesias (1981) 76 TC 1060,acq. 1981-47 IRB-5) that allowed a physician who underwent psychoanalysis while a resident in psychiatry to deduct the cost as a business ex...

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Contact Info:

Ronald Semaria
Semaria Consulting
1408 East 66th St
Brooklyn, NY 11234
Email: info@semaria.com

Phone Numbers:

Phone: 718-531-1105
Toll-Free: 866-531-1105
Toll-Free: 888-IRSAUDIT
Toll-Free: 888-RONTAXES
Fax: 718-444-7152

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