March/April 2024

SILLSANDASSOCIATES.COM
 
 
 
Sills and Associates PA
4400 Silas Creek Parkway
Suite #200
Winston-Salem, NC 27104
(336) 768-3290
mail@sillsandassociates.com
www.sillsandassociates.com
Deducting business travel expenses: A refresher

During the COVID-19 pandemic, business travel nearly came to a halt. Today, it’s on the rebound, as “Zoom-fatigued” executives craving face-to-face interaction hit the road again. With more people getting out of their offices, now is a good time for a refresher on the tax deductibility of business travel expenses. This article explores what’s considered one’s tax home and what expenses are deductible. A sidebar explains the deductibility rules when a business trip is mixed with pleasure.

Considering home improvements?

Those planning improvements that will boost their homes’ energy efficiency should know about certain tax incentives that may offset some of the costs. The Inflation Reduction Act extended and expanded tax credits that reward homeowners who “go green.” This article explains the tax credits and details their rules and restrictions.

Share your values with the use of an incentive trust

Those who have worked a lifetime and built up a substantial amount of wealth may be uncertain about how family members will handle inheritances. This article details why incentive trusts may be the right vehicle to share one’s values with heirs.

Tax Tips

These brief tips explain how renting out a home on a short-term basis can yield tax-free income and examine the circumstances of when an individual might be eligible for a Medicare refund.

 
This publication is distributed with the understanding that the author, publisher and distributor are not rendering legal, accounting or other professional advice or opinions on specific facts or matters, and accordingly assume no liability whatsoever in connection with its use. ©2024 •