Deductions - Isler Northwest, LLC

Deducting the Costs of Modifications for Senior-Proofing a Home

While Americans may argue about any number of hot-button political topics, there’s no disagreement on one issue: the country’s population is aging…fast. According to the Social Security Administration, 10,000 baby boomers a day are reaching…

Disaster-Related Tax Losses May Be Less Than Expected

The late-2017 tax-reform package changed the rules for personal casualty losses, which now are only deductible if they occur in a federally declared disaster area. As a result, if a home is destroyed in a forest fire or other disaster within…

How to Write Off Worthless Stock

Deductions, Taxes

If you are like most investors, you occasionally will pick a loser that declines in value. Sometimes, a security can even become worthless when the issuing company goes out of business. Gains and losses for securities, including stock,…

How Does Combining a Vacation with a Foreign Business Trip Affect the Tax Deduction for Travel Expenses of a Self-Employed Individual?

2018 Tax Laws, Business, Deductions, Entrepeneurship, Self-Employment, Tax Planning, Tax Reform, Tax Tips, Taxes

Note: effective for years 2018 through 2025, the Tax Cuts and Jobs Act of 2017 suspended the deduction of miscellaneous itemized expenses that must be reduced by 2% of the taxpayer’s adjusted gross income. Employee business expenses, including…

Deducting the Costs of Modifications for Senior-Proofing a Home

Disaster-Related Tax Losses May Be Less Than Expected

How to Write Off Worthless Stock

How Does Combining a Vacation with a Foreign Business Trip Affect the Tax Deduction for Travel Expenses of a Self-Employed Individual?

Eldercare Can Be a Medical Deduction

How High-Income Professionals Can Benefit from the Pass-through Deduction

Good and Bad News About The Home Office Tax Deduction