We here at Donovan & Limroth, CPA's, PA feel that an informed client is our best customer. We know that there is a lot of information on the Internet and it can be tough to determine what is valuable. That is why we have selected the following article for you to view.

Simply click on the title of an article below to view its complete text:   Potential Double Benefit from a Tax Deduction For most taxpayers, the amount of federal income tax they pay each year often depends upon where they fall in the federal income tax brackets and on the breakdown of their taxable income between ordinary (e.g., wages) and capital gains from the sale of assets (e.g., common stock).   Business and Investment Expense Documentation Even though there may be no question as to the deductibility of a business or investment expense, it may be disallowed by the IRS for lack of supporting documentation.   One-person 401(k) Plans for the Small Business Owner One-person 401(k) plans are becoming increasingly popular for businesses that employ only the owner. Given the right circumstances, such plans can allow a large amount to be contributed on behalf of the owner while maintaining flexibility in making contributions in future years.