AHP Blog

Created: Wednesday, March 23, 2016

Tips for Deducting Losses from a Disaster, Fire, or Theft

If you suffer damage to your home or personal property, you may be able to deduct these “casualty” losses on your federal income tax return. A casualty is a sudden, unexpected or unusual event, such as a natural disaster (hurricane, tornado, flood, earthquake, etc.), fire, accident, theft or vandalism. A casualty loss doesn’t include losses from normal wear and tear or progressive deterioration from age or termite damage.
Created: Tuesday, February 9, 2016

Deduct Home Office Expenses – If You’re Eligible

Today it’s becoming more common to work from home. But just because you have a home office space doesn’t mean you can deduct expenses associated with it.
Created: Tuesday, February 2, 2016

Extension Means Businesses Can Take Bonus Depreciation on Their 2015 Returns – But Should They?

Bonus depreciation allows businesses to recover the costs of depreciable property more quickly by claiming additional first-year depreciation for qualified assets. The Protecting Americans from Tax Hikes Act of 2015 (the PATH Act) extended 50% bonus depreciation through 2017.
Created: Tuesday, January 26, 2016

File Early to Avoid Tax Identity Theft

If you’re like many Americans, you may not start thinking about filing your tax return until the April 15 deadline (this year, April 18) is just a few weeks — or perhaps even just a few days — away. But there’s another date you should keep in mind: January 19.