Monthly Archives: January 2015

Can I Deduct Mileage on my Tax Return?

A taxpayer can substantiate vehicle expenses by keeping an exact record of the amount paid for gasoline, maintenance, insurance, and other costs.  However, the optional standard mileage rate method is a simplified method available to businesses, self-employed persons, and employees … Continue reading

Posted in Tax-Planning Tips | Leave a comment

Affordable Care Act (ObamaCare) Penalty

The Affordable Care Act (ACA), also referred to as Obamacare, imposes an individual mandate requiring all non-exempt US Citizens and legal residents to enroll in government-approved health insurance OR pay a penalty. The penalty will be collected through the individual’s … Continue reading

Posted in ACA (ObamaCare), Tax-Planning Tips | Leave a comment