PRESSEL CPA
DEBORAH A. PRESSEL, CPA
Born and raised in Kouts, Indiana. Received Bachelor Degree from Purdue University, West Lafayette. Received CPA License in 1997.
Contact Information
Tel: (219)462-2625
Fax: (219)510-5415
email: deb.presselcpa@gmail.com
Address: 111 S. Smoke Rd.
Valparaiso, IN 46385
The tax code grows by 12% each year. I spend at least 40 hours a year learning about new laws and ways to help you and your business. Isn't it time you talked to a professional?
News & Publications
Areas of Practice
Individual Tax
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Small Business
Retirement Planning
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Business Start-ups
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Pers​onal Finance
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​Real Estate/ Rental Properties
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Entity selection
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Cash Management
Call or email me today!
Consultations are by appointment only!
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Be careful not to overstate your good deeds. The IRS has calculated the average donation level for each income range, so anything that far exceeds those amounts could cause the agency to take a second look at your return.
You're required to keep receipts for any donations exceeding $250, and to fill out Form 8283 for any non-cash donations exceeding $500.
And be realistic: non-cash donations are where a lot of people often exaggerate, so remember that the items you're giving to Goodwill should be valued at the price someone would actually pay for it -- not the amount you bought it for years ago.
Charitable Contributions
Deb Pressel
The home office deduction is one of the most complicated and abused deductions in the tax code, which is one of the reasons the IRS is introducing a new, simplified option for claiming it this year.
In the past, taxpayers who claimed the home office deduction were required to fill out a separate form calculating the percentage of their home's space used solely for the business and the percentage of expenses that apply to the office, which can be very complicated to figure out.
But starting this year, you can simply claim $5 per square foot of workspace, up to 300 square feet. The deduction will be capped at $1,500 per year and the form for claiming it will be simplified.
That doesn't mean there isn't still room for error, however. The IRS's definition of a home office remains unchanged, and this is where a lot of people get confused or try to stretch the rules. So remember, just because you work from home a couple days a week or check work emails from your kitchen doesn't mean you can claim the home office deduction. Your home office must be your primary place of business and used exclusively for work.