deduction – Kenneth Athon Tax Strategies

A Client Asks Why His Refund Is Not Larger

Question: It is crazy how little I'm getting back on my taxes … why is that? Answer: Except for people who work -- and less than the poverty level (as…

Tax Breaks Underwrite the Enjoyment of our Richest Citizens

Nonprofit ProPublica "has identified a special class of superrich taxpayers who amass tax deductions to such an extent that they can avoid income taxes for years on end. Many of…

There are several ways of donating to charities and getting a tax deduction for the gift.

Here is a short list of some of them as compiled by CPA and advisor Ed Mendlowitz, Withum.com.

Business Meal Expense deduction changed for 2021-22

For calendar years 2021 and 2022, businesses (including self-employed persons) can deduct 100% of the cost of qualifying business-related food and beverage provided by a restaurant. In prior years, the…

Written Log Book Needed for Mileage Deduction

06/25/202106/18/2021

A recent case confirms the requirement to maintain a contemporaneous, written log book in order to claim a deduction for business mileage expense. (Contemporaneous means recorded at the time of…

Combining the Standard with an additional deduction

02/15/202102/15/2021

For most taxpayers in our state, due to tax law changes during the Trump administration, the Standard Deduction (one generic subtraction from your taxable income) is more favorable than Itemized…