Information

Some people don't deduct depreciation for a home office because they think it will cause them to owe tax on the gain allocated to the office when they sell the home. This is not the case.

As long as the home office is part of your house, and not a separate structure, you will get the full principal-residence capital gains exclusion.

IRS Warns Taxpayers of New E-mail Scam

Updated Nov. 2, 2007 — A new scam e-mail that appears to be a solicitation from the IRS and the U.S. government for charitable contributions to victims of the recent Southern California wildfires has been making the rounds. A link in the e-mail, when clicked, sends the e-mail recipients to a Web site that looks like the IRS Web site, but isn't. They are then directed to click on a link that opens a donation form that asks for personal and financial information. The scammers can use that information to gain access to the e-mail recipients' financial accounts. The IRS does not send e-mails to taxpayers soliciting contributions to a charitable cause.

Telephone Excise Tax Refund

The Telephone Excise Tax Refund (TETR) is a one-time payment available on your 2006 federal income tax return. It is designed to refund previously collected long distance telephone taxes. Individuals, businesses and tax-exempt organizations are eligible to request it.

If you have any questions or would like further information, please contact us via the links on the Contact Us page. An experienced tax professional will respond to your query in a timely manner.