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Author Archives: Peter G. Robbins, CPA

Last-minute tax planning: the new tax bill

The Tax Cuts and Jobs Act has been passed by Congress and President Trump should be signing the bill into law by the end of the week. Merry Christmas! The new tax bill is hundreds of pages long and while ...

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Talking Tax: Depreciations on office space (access required)

Q: I have a few questions about my office finish out and the tax treatment of some of my expenditures as I expand my office space. I am expecting to pay around $17,000 for improvements to the office (a couple ...

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Talking Tax: Deducting the expenses on your Maserati

Q: I am in my car for business purposes a lot, but I have always been confused about what I can and can’t deduct on my tax return. Can you offer any guidance? A: Taxpayers are all over the board ...

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Talking Tax: The horse business

Q: My husband has always wanted to have horses so recently we purchased a six-acre property that we will be moving to shortly. My husband is now talking about making horses a business even though he is not going to ...

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Talking Tax: Capital gains on retirement money

Q: I recently retired and need to take my retirement money out of my employer’s ESOP. I assume if I don’t put this into another retirement account that it will all be taxable to me. But some of my employer’s ...

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Talking Tax: Starting a new business

Q: My husband and I are starting up a new home inspection business. What are the most important tax aspects we need to be aware of? I have been reading up on SE taxes, etc, but I am just not ...

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Talking tax: What are the benefits to setting up a trust?

Q: I have a few questions regarding a trust my Mom set up for me. It was created upon her death and I am the sole beneficiary and the sole trustee, with virtually no limitations on what I do with ...

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