March 2024

Hello everybody!

Just a reminder that 2023 Extensions & 2024 1st quarter estimates are due by 4-15-23

* if you have an s corporation or multi-member LLC, those were due last month, on 3-15-24)

* see also information below for Arts tax, BOI & reporting of Foreign Bank Accounts.

Renting out a vacation home can be a lucrative venture, but it comes with a complex set of tax rules that homeowners must navigate to remain compliant and maximize their financial benefits.

When traveling for business, understanding what constitutes allowable business deductions can significantly impact the financial health of your business.

As a business owner, it’s likely that you have one or more vehicles that you use for business purposes, either full-time or part-time. The IRS offers business deductions for business vehicle use, but it’s important to know the rules, so you can get the most out of the potential deductions.

Charitable giving not only supports those in need but also can provide financial benefits in the form of tax deductions. However, maximizing these benefits while staying compliant with IRS regulations requires careful planning and understanding.