At Machen McChesney we are committed to Returning Value to you through our monthly e-newsletter, The Value Report.

Here you'll find regular tips to help with your business and personal finances, as well as strategies to grow and more efficiently run your organization. 

1. Crash Course on Education Tax Breaks
2. Rental Property Owners Can Take an Individual Tax Deduction
3. A Tale of Two Business Structures
4. Have you Designated Your Beneficiaries?
5. Valuable R&D Tax Credits Available to Manufacturers
6. IRS Warns of Fake Tax Bills
7. What's New at Machen McChesney

Crash Course on Education Tax Breaks.

Now that your children are back in school, you might consider the available tax breaks for higher education expenses. Following extensions and modifications under the Protecting Americans from Tax Hikes (PATH) Act of 2015, there are three primary tax provisions that may benefit parents: the American Opportunity Tax Credit (AOTC), the Lifetime Learning Credit (LLC) and the tuition deduction. Continue reading.

Rental Property Owners Can Take an Individual Tax Deduction.

Make these elections on your 1040 tax return.

Owners of rental property may be surprised to learn that they may take a tax deduction on their 1040 tax returns. Tangible property regulations, issued by the IRS in 2013, address a wide variety of topics, including materials and supplies; repairs and maintenance; capital expenditures; and amounts paid for the acquisition and improvement of tangible property.  
Continue reading. 

If you are organizing a new business or considering a switch from one to the other for an existing business structure, you may prefer to elect S corporation status for tax purposes rather than a traditional C corporation. Continue reading. 

Have you Designated Your Beneficiaries?

A Key component of estate planning

Most of us lead hectic lives, but as part of an estate plan, it is important to take the time to designate or update beneficiaries for all of your assets. Notably, you should be aware that designations for retirement plans and life insurance policies supersede beneficiary dispositions in your will. Keeping that in mind, here are several practical suggestions. Continue reading.

IRS Warns of Fake Tax Bills

On September 22, 2016, the Internal Revenue Service and its Security Summit partners issues an alert to taxpayers and tax professional to be on guard against fake emails purporting to contain an IRS tax bill related to the Affordable Care Act. Continue reading. 

What's New at Machen McChesney?

Sponsorships, new hires, announcements
Continue reading.

We hope you found value in The Value Report you've received this month. We look forward to finding even more ways to Return Value to you in the future.