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From the Headlines to your Bottom Line

Save Taxes with Employer-Provided Transportation Fringe Benefits

Have you signed up for transportation fringe benefits or contributed to a salary reduction arrangement to cover the costs of your daily commute? If your employer provides these fringe benefits for parking, mass transit passes, van pooling and bicycle costs, taking advantage of them could save you significant tax dollars. Here are the details.
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Midyear Planning for Vacation Home Rentals with Significant Personal Use

Many people own properties that they primarily use for family vacations. When they contemplate renting out these vacation homes, questions often arise about taxes. Here are the tax basics for vacation homes that are rented out to third parties but that also have significant personal use. Summer is a good time to plan how to use such properties for the rest of the year to maximize the tax benefits.
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More Adult Children Opting to Live with Parents

Plans to remodel your kid's bedroom into an exercise room or walk-in closet after he or she completes school may have to be put on hold. A recent study reveals that more young adults are opting to live with their parents as opposed to moving out on their own or with friends. Surprisingly, the uncertain economy isn't always the reason and many parents and live-in adult children are happy with the set-up. Here's more on this emerging trend.
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How We Add Up

"Our clients rely on Fust Charles Chambers to provide innovative thinking by anticipating changes in tax laws, accounting methods and industry and economic trends. At other times, our clients depend on us to act as a sounding board for their ideas and concerns. We’re proud to be part of our clients’ team with the purpose of assisting them in attaining their goals and objectives."

- Joseph L. Charles, Partner