How to Clear the Medical Deduction Hurdle

Don’t overlook common deductible expenses In the past, it was difficult to qualify for medical expense deductions. Now, some pundits would say that it is “nearly impossible.” Based on tax law changes that took effect in 2013, most taxpayers can deduct only unreimbursed expenses in excess of 10% of their adjusted gross income (AGI), up
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Maximizing Tax Benefits of Installment Sales

Special tax rules apply to real estate gains If you are trying to sell appreciated commercial real estate in today’s market, you may have to compromise. For instance, if you refuse to budge on price, you might have to make other reasonable concessions, such as agreeing to an installment sale for a buyer with limited
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Understanding Your Financial Statements, Does your CPA Help?

Many small and medium size business owners get their monthly or quarterly financial statements and only look to see whether or not they were profitable and then file them away.  I had one business owner tell me he really didn’t understand what the balance sheet or cash flow statement meant and was embarrassed to ask.
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