Christine Hradsky No Comments

Ensure You Qualify for Charitable Donation Deductions

Charitable Donation Deduction

Know what qualifies for a charitable donation deduction.

Giving to charity can provide you with a warm feeling as well as a nice tax break. But you’ve got to itemize deductions on your tax return. And, like most tax breaks, charitable deductions come with a number of rules you must follow to actually claim the write-off. Here are the details.  Read more

Christine Hradsky No Comments

Savor Business Entertainment Tax Breaks

You can have a good time and still deduct part of the cost when you entertain business clients or customers.

Entertainment Tax

Know the guidelines of what qualifies for a business entertainment tax deduction.

The tax law generally permits you to deduct 50 percent of the cost of meals and entertainment that are either “directly related to” your business or “associated with” your business. For example, if you conduct business in your conference room while you serve lunch, the meal qualifies as entertainment that is directly related to your business. A more common situation is deducting entertainment that is associated with your business. To meet this tax test, you must hold a substantial and bona fide business discussion preceding or following the entertainment.

So, if you wrap up a business deal at 5 p.m. and then take the clients out to dinner, the cost is deductible within the allowable limits.

Keep in mind that you do not have to show that income or other business benefits actually resulted from an entertainment expense.

Here are few other guidelines:

Read more

Christine Hradsky No Comments

Understand Your Social Security Retirement Benefits

Social Security Retirement

Understand your Social Security Retirement Benefits

For years, people have questioned the viability of the Social Security system going forward. In July, the Social Security Board of Trustees released its annual report on the long-term financial status of the Social Security Trust Funds.

The report projects that the combined asset reserves of the Old-Age, Survivors and Disability Insurance (OASDI) Trust Funds will become depleted in 2034, unless Congress takes action to reverse the situation.

In general, people approaching retirement age often have other questions about benefits they may be eligible to receive from the Social Security Administration (SSA). Here are common concerns regarding the Social Security system.

Read more

Christine Hradsky No Comments

Is 2017 The Year Things Change For The Property Industry?

By Ian Shapiro

Technology Innovations Property Industry

Technology innovations are set to help the property industry move forward in 2017.

Technology has been a disruptive force in most industries and sectors over recent years. But in the real estate and construction (REC) sector, widespread adoption of new technologies has lagged somewhat. Indeed, the adoption of technology in property – or ‘PropTech’ – has fallen a little short of its anticipated take-up. For example, in the U.S., the construction industry is several years behind many other industries with regards to technology with many companies still using manual systems for project planning and management. That’s why construction remains far behind in reaping the benefits of advanced data and analytics, drones, automation and robotics.

However, 2017 is set to be the year the floodgates open for PropTech in the global REC sector, and we’ve looked at some key technologies you should be keeping an eye on in the industry this year.

Read more