DiSabatino CPA Blog

DiSabatino CPA Blog

A blog by Michael DiSabatino CPA with topics on Tax Savings, Business, Management and more...

3 Great Charitable Deduction Ideas

Despite what you may have heard from friends or family, you can still claim generous tax benefits for charitable contributions. Here are three prime examples of charitable tax breaks ripe for the picking if you know where to look:

Continue reading
0
  1704 Hits

The Tax-Free Retirement Savings Option - Is a Roth IRA right for you?

If you are looking for tax-free income and more flexibility during retirement, perhaps you should look into investing in a Roth IRA. While Roth IRA contributions are not sheltered from current taxes like contributions to traditional IRAs, they offer other tax benefits during retirement.

Continue reading
0
  4097 Hits

What's the average tax refund check?

What's the average tax refund check?

The IRS returned more than $323 billion in tax refunds to taxpayers last year.

Continue reading
0
  7597 Hits

Turning Your Hobby Into a Business

You’ve loved dogs all your life so you decide tostart a dog breeding and trainingbusiness. Turning your hobby into a business can provide tax benefits if you do it right. But it can create a big tax headache if you do it wrong.

One of the main benefits of turning your hobby into a businessis that you can deduct all your qualified business expenses, even if it results in a loss. However, if you don’t properly transition your hobby into a business in the eyes of the IRS, you could be waving a red flag that reads, “Audit Me!” The agency uses several criteria to distinguish whether an activity is a hobby or a business. Check the chart below to see how your activity measures up.

Continue reading
0
  12253 Hits

Renters Miss Out on Homeowner Benefits

If you rent rather than own a home, you could be missing out on tax benefits that favor home ownership. The current low interest rates make the cost of getting a mortgage relatively inexpensive, despite U.S. house prices at record highs.

Continue reading
0
  11197 Hits
 

Speed Up Your Success!

Contact Us Today: 1-805-389-7300

© 2006-2018 Michael DiSabatino, CPA. All Rights Reserved.