SEYMOUR & PERRY, LLC | BLOG

In addition to other types of expenses, certain federal, state, local, and foreign taxes also qualify as deductible business expenses. Which taxes can I deduct as business expenses? When can I deduct taxes as a business expense?

Can you believe it’s almost time to file your taxes? As the year comes to a close, another tax season awaits just around the corner [...]

Are you planning to sell your home? If you make a profit on the sale, it may be subject to capital gains tax on your federal tax return...

Homeownership comes with a great deal of financial responsibility. If you own your home, you're already familiar with the costs of mortgage payments, property taxes, and other expenses associated with general home maintenance and upkeep. Owning property can certainly be a costly investment! There are certain tax benefits designed to help mitigate the financial strain of homeownership, such as the Home Mortgage Deduction and the Residential Energy Credit. In addition to thes

If you are contemplating becoming a homeowner, you may be surprised by the myriad of expenses associated with owning your own home [...]

Did you know that you may be able to deduct local and state taxes on your 2019 tax return? This option is available to taxpayers who choose to itemize deductions on their tax return; if you choose to take the standard deduction, you may not deduct state or local taxes. If you are eligible to itemize state and local taxes on your return, you may only deduct taxes that were imposed on you and that you have paid during the tax year. This means that you cannot deduct taxes paid

When you hear the word "taxes," what comes to mind? Income taxes may take center stage in your mind's eye at the first thought of taxation, especially during tax filing season. You are probably familiar with property tax and sales tax, as well; but did you know that there is a plethora of other tax categories? Though we are certainly acutely aware of some taxes, others are levied more sparingly or are less obvious to consumers.