Commentary Since 1987, taxpayers have been denied charitable deductions for contributions to their university’s athletic department if the taxpayer receives the right to purchase tickets, preferred seating, etc. Until 2021, no university athletes were allowed to be paid by donors to play sports. Athletic scholarships to athletes to play sports were and are not taxable….
Landlords: Save Money With These Tax Reduction Strategies
Owning one or more rental properties is an excellent way to ensure an ongoing income. Knowing the best tax reduction strategies and applying them can make your investment even sweeter. First, a Note About Record-keeping To ensure that you can claim as many tax write-offs as possible on your investment property, keep all your receipts–and…
5 Reasons Entrepreneurs Should Hire Their Children
By Tom Wheelwright As a small business owner, hiring your children can be a win-win for everyone in the family. Here are the five top reasons why entrepreneurs should hire their children. 1. Tax Deduction for Your Company The most obvious reason to hire your children is to have their salary as a tax deduction. The…
How to Reduce Your Taxes for 2023—Tips for Families With Children
Raising children can be expensive and it’s not getting any cheaper. One excellent place to start keeping more money for your family is to pay less in taxes. There are several ways to reduce your tax bill for the next year—and the earlier you start, the more money you will save. Take Advantage and Learn…
Capitol Report (April 18): Judge revokes CDC Mask Mandate on Airplanes
April 18, 2022
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Capitol ReportDefense Production ActeastereducationelectionGOP lawmakersGreg Abbottillegal immigrantsMask mandateNews VideosSupreme CourtTax DeductionTexasUSUS NewsWashington
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The sixth bus of illegal immigrants arrived in Washington from Texas. Earlier this month, Texas Gov. Greg Abbott started sending these buses of illegal immigrants to Washington, drawing both praise and condemnation from different groups. Arizona Congressman Andy Biggs visited the border with a group of nearly 50 GOP lawmakers. We’ll tell you what they…
25 Tax Deductions You Can Claim as a Freelancers
Just because freelancers have flexibility and independence doesn’t mean that we don’t get stressed out. Even though we have the option to work from home and set our own hours doesn’t mean that we can slack off. We still have deadlines to meet, clients to network with, and make sure that we get paid on…
Why Full Expensing of R&D Should Remain in the Tax Code
March 3, 2021
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asset depreciationbusiness investmentfederal revenuefull expensingOpinionresearch and developmentTax benefitstax codeTax Cuts and Jobs ActTax DeductiontaxesViewpoints
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Commentary Ask a thousand random people what the 2017 tax reform law did, and probably none of them would tell you about full expensing of business investments—instead, they’d likely cite individual or corporate income tax reductions. And yet, the ability to immediately deduct investment expenses was one of the most important, pro-growth provisions in the…
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