Lucke & Associates CPA's

02/28/2024

There May Still Be Time to Lower Your 2023 Tax Bill If you’re preparing to file your 2023 tax return, you may still be able to lower your tax bill – or increase your refund. If you qualify, you can make a deductible contribution to a traditional IRA… https://zurl.co/XAlo

There May Still Be Time to Lower Your 2023 Tax Bill If you’re preparing to file your 2023 tax return, you may still be able to lower your tax bill – or increase your refund. If you qualify, you can make a deductible contribution to a traditional IRA right up until the original filing deadline,.....

02/21/2024

Tracking Down Donation Substantiation If you’re like many Americans, your mailbox may have been filling up in recent weeks with letters from your favorite charities acknowledging your 2023 donations. But what happens if you haven’t received such a letter… https://zurl.co/77d1

Tracking Down Donation Substantiation If you’re like many Americans, your mailbox may have been filling up in recent weeks with letters from your favorite charities acknowledging your 2023 donations. But what happens if you haven’t received such a letter for a contribution? Can you still claim a...

02/14/2024

How to Secure a Tax Benefit with the QBI Deduction QBI may sound like the name of a TV quiz show. But it’s actually the acronym for “qualified business income,” which can trigger a tax deduction for some small business owners or self-employed individuals… https://zurl.co/R7ot

How to Secure a Tax Benefit with the QBI Deduction QBI may sound like the name of a TV quiz show. But it’s actually the acronym for “qualified business income,” which can trigger a tax deduction for some small business owners or self-employed individuals. The QBI deduction was authorized by th...

02/09/2024

Traveling for Business in 2024? What’s Deductible? If you and your employees will be traveling for business this year, there are many factors to keep in mind. Under the tax law, certain requirements for out-of-town business travel within… https://zurl.co/mExR

Traveling for Business in 2024? What’s Deductible? If you and your employees will be traveling for business this year, there are many factors to keep in mind. Under the tax law, certain requirements for out-of-town business travel within the United States must be met before you can claim a deducti...

01/31/2024

Appraisals Aren’t Just for Businesses Whether you’re in the process of making a retirement or estate plan or you intend to donate property to charity, you’ll need to know the value of your assets. Read more at: https://zurl.co/Py6m

Appraisals Aren’t Just for Businesses Whether you’re in the process of making a retirement or estate plan or you intend to donate property to charity, you’ll need to know the value of your assets. For many hard-to-value items, such as closely held business interests, real estate, art and colle...

01/24/2024

The Advantages of LLC Structure for a Small Business If you operate your small business as a sole proprietorship, you may have thought about forming a limited liability company (LLC) to protect your assets. Read more at: https://zurl.co/Yv9A

The Advantages of LLC Structure for a Small Business If you operate your small business as a sole proprietorship, you may have thought about forming a limited liability company (LLC) to protect your assets. Or maybe you’re launching a new business and want to know the options for setting it up. He...

01/17/2024

Sec. 179 Expensing and Bonus Depreciation: Beware of Pitfalls If eligible, you can elect to use Section 179 expensing or bonus depreciation to deduct a large portion of the cost of eligible property in the year it’s placed in service. Read more at: https://zurl.co/bFmy

Sec. 179 Expensing and Bonus Depreciation: Beware of Pitfalls If eligible, you can elect to use Section 179 expensing or bonus depreciation to deduct a large portion of the cost (and in some cases the full cost) of eligible property in the year it’s placed in service. Alternatively, you may follow...

01/10/2024

One Reason to File Your 2023 Tax Return Early The 2023 individual income tax return filing season will open soon. Even if you typically don’t file until much closer to the April 15 deadline, consider filing earlier this year. Read more at https://zurl.co/4qRG

One Reason to File Your 2023 Tax Return Early The 2023 individual income tax return filing season will open soon. Even if you typically don’t file until much closer to the April 15 deadline (or you file for an extension), consider filing earlier this year. Why? You may be able to protect yourself ...

01/01/2024

Happy New Year from everyone here at Lucke!

12/25/2023

Happy Holidays from everyone here at Lucke!

12/21/2023

Your business can attract and retain employees by providing education benefits that enable team members to improve their skills and gain additional knowledge, all on a tax-advantaged basis. https://zurl.co/T9R7

12/18/2023

Traditional and Roth IRAs can be relatively “safe” retirement-saving vehicles, though, depending on what they’re invested in, they limit your investment choices. For more flexibility in investment choices but also more risk, another option is a self-directed IRA. https://zurl.co/ulLB

Traditional and Roth IRAs can be relatively “safe” retirement-saving vehicles, though, depending on what they’re invested in, they limit your investment choices. For more flexibility in investment choices but also more risk, another option is a self-directed IRA. Gaining More Control A self-di...