 |

Home Up Tip #1 Tip #2 Tip #3 Tip #4 Tip #5 Tip #6 Tip #7 Tip #8 Tip #9 Tip #10
|
|
Consider
These Points When Preparing
Your
Income Tax Returns
 |
Abandoned leasehold
improvements: If you moved your office or business last
year and previously paid for leasehold improvements which you have
abandoned, you are entitled to an income tax deduction for the
undepreciated cost of these improvements. |
 |
Unamortized points:
If you refinanced your home last year, you may be entitled to deduct the
unamortized portion of points from a previous refinance. |
 |
Sold, abandoned, or
retired assets: If you sold, abandoned, or retired
items of furniture or equipment, you should alert your accountant,
because property taxes in many states and localities are assessed by the
cost of such assets. Review your list of active depreciable assets with
your tax advisor to see whether some property tax savings are in order |
On a similar note, be sure to inform your tax advisor if you have recently
purchased business supplies, furniture, or equipment by credit card or deferred
payment. If these items became part of your business before year end, their
deduction will take place on last year's return, even though you may have
delayed payments until this year.
|
 |
 |