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Reilly Tax Advisor

The investment interest expense deduction: Less beneficial than you might think

Jan 25, 2017

Investment interest — interest on debt used to buy assets held for investment, such as margin debt used to buy securities — generally is deductible for both regular tax and alternative minimum tax purposes. But special rules apply that can make this itemized deduction less beneficial than you might think.

Reilly Tax Advisor

2017 Q1 tax calendar: Key deadlines for businesses and other employers

Jan 17, 2017

Here are some of the key tax-related deadlines affecting businesses and other employers during the first quarter of 2017. This list isn’t all-inclusive, so there may be additional deadlines that apply to you.

Reilly Tax Advisor

Deduction for state and local sales tax benefits some taxpayers, but not all

Jan 17, 2017

The federal tax break allowing taxpayers to take a deduction for state and local sales taxes in lieu of state and local income taxes was made permanent a little over a year ago. This break can be valuable to those residing in states with no or low income taxes or who purchase major items, such as a car or boat.

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