Blog

Convert Your Personal Vehicle to Business and Deduct up to 100 Percent

THE WHALEN GROUP Tax-Saving Tips August 2018 Convert Your Personal Vehicle to Business and Deduct up to 100 Percent You probably like your personal vehicle just as it is. But wouldn’t you like it far better if it were producing tax deductions? Perhaps big deductions, immediately. And the Tax Cuts and Jobs Act gives you […]

Drive Time Increases Odds of Deducting Rental Property Losses

THE WHALEN GROUP Tax-Saving Tips October 2018 Drive Time Increases Odds of Deducting Rental Property Losses Your rental properties provide tax shelter when you can deduct your losses against your other income. One step to deducting the losses is to pass the tax code’s 750-hour test. And one step to finding the hours you need […]

New IRS 199A Regulations Benefit Out-of-Favor Service Businesses

THE WHALEN GROUP Tax-Saving Tips September 2018 New IRS 199A Regulations Benefit Out-of-Favor Service Businesses If you operate an out-of-favor business (known in the law as a “specified service trade or business”) and your taxable income is more than $207,500 (single) or $415,000 (married, filing jointly), your Section 199A deduction is easy to compute. It’s […]