by olacoste@fostermarketing.com | Jun 22, 2026 | For Your Information
Depreciation Depreciation is an income tax deduction that allows a taxpayer to recover the cost or other basis of certain property. It is an annual allowance for the wear and tear, deterioration or obsolescence of the property. Most types of tangible property (except,...
by olacoste@fostermarketing.com | Jun 22, 2026 | For Your Information
Hurricane Preparedness With the early start of this year’s hurricane season, the our firm would like to encourage individuals and businesses to safeguard themselves against natural disasters by taking a few simple steps. Create a Backup Set of Records Electronically...
by olacoste@fostermarketing.com | Jun 22, 2026 | For Your Information
Mortgage Debt Forgiveness If your lender cancelled or forgave your mortgage debt, you generally have to pay tax on that amount. But there are exceptions to this rule for some homeowners who had mortgage debt forgiven in 2012. The following is a list of key facts...
by olacoste@fostermarketing.com | Jun 22, 2026 | For Your Information
Tax Credits for Students This tax season is a good time to see if you qualify for either of two college education tax credits or any of several other education-related tax benefits. In general, the American opportunity tax credit, lifetime learning credit and tuition...
by olacoste@fostermarketing.com | Jun 22, 2026 | News
Home Office Deductions Many home-based workers take advantage of the home office deduction when computing their taxes. This process can be onerous and complicated. However, the IRS recently announced a simplified option that many owners of home-based businesses and...
