Call Us Today: (201) 947-8081 or (646) 688-2807

Its Time to Review Your 2014 Deductions

deduction 2

Some itemized deductions are limited by a percentage of your gross income. An example is miscellaneous deductions. These provide a benefit only if your total outlay for costs such as investment fees and unreimbursed employee business expenses exceed 2% of your adjusted gross income.

If you consistently lose out on these deductions, check now to determine if pulling some of January’s expenses into December will help.

Keep an eye on your exposure to the alternative minimum tax whenever you plan a strategy for making the most of deductions. Some expenses aren’t deductible under those rules.

For assistance with this or other tax or accounting matters please contact us at 201-947-8081 or 646-688-2807, or email us at info@bergencountycpa.com.

Comments are closed.

Latest Articles

Our Location

1330 Ave of the Americas, Suite 23A, New York, NY 10019
15-07 Alden Terrace, Fair Lawn, NJ 07410
One Bridge Plaza, Fort Lee, NJ 07024