Frazer LLP Blog

Cindy Lim, CPA


Recent Posts

Tax-Saving Ideas for Your Investments

Oct 9, 2017 11:00:00 AM / by Cindy Lim, CPA posted in Tax, Investments, Tax Savings

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A tried-and-true tax-saving strategy for investors is to sell assets at a loss to offset gains that have been realized during the year. So if you’ve cashed in some big gains this year, consider looking for unrealized losses in your portfolio and selling those investments before year end to offset your gains. This can reduce your 2017 tax liability.

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What is the tax deduction for donating a vehicle?

Jul 31, 2017 12:00:00 PM / by Cindy Lim, CPA posted in Tax, Charitable Donations

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All charitable donations aren’t created equal — some provide larger deductions than others. And it isn’t necessarily just how much or even what you donate that matters. How the charity uses your donation might also affect your deduction.

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2016 IRA contributions: there's still time!

Mar 21, 2017 1:41:22 PM / by Cindy Lim, CPA posted in Tax, IRAs, Retirement Planning

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Yes, there’s still time to make 2016 contributions to your IRA. The deadline for such contributions is April 18, 2017. If the contribution is deductible, it will lower your 2016 tax bill. But even if it isn’t, making a 2016 contribution is likely a good idea.

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What Are the Tax Consequences of a Home Sale?

Jun 15, 2016 12:47:06 PM / by Cindy Lim, CPA posted in Tax

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As the school year draws to a close and the days lengthen, you may be one of the many homeowners who are getting ready to put their home on the market. After all, in many locales, summer is the best time of year to sell a home. But it’s important to think not only about the potential profit (or loss) from a sale, but also about the tax consequences.

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Contribute to your IRA by April 18, 2016

Mar 23, 2016 12:13:00 PM / by Cindy Lim, CPA posted in Tax, IRAs, Retirement Planning

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Tax-advantaged retirement plans allow your money to grow tax-deferred — or, in the case of Roth accounts, tax-free. But annual contributions are limited by tax law, and any unused limit can’t be carried forward to make larger contributions in future years. So it’s a good idea to use up as much of your annual limits as possible. Have you maxed out your 2015 limits?

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Are You Eligible for the Home Office Deduction?

Feb 23, 2016 11:20:04 AM / by Cindy Lim, CPA posted in Tax, Home Office Deduction

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Today it’s becoming more common to work from home. But just because you have a home office space doesn’t mean you can deduct expenses associated with it.

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