Tax Return Memo

10 October 2016

In the future you may want to think about claiming depreciation on your home office. You elected not to do so this year, but it could have resulted in a larger refund. You could also choose to do the same for Lovie’s vehicle if she is using it to meet clients or take clients out for dinner meetings, etc. Thurston’s receipts for gas to and from work were not a deductible expense. It was a good decision to take the education incentives for the children.

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You received the American Opportunity Credit and Lifetime Learning Credit. I could have included Gingers 2,000 income in your return, but I did not. While it would have taken the burden of filing off of Ginger, it would have increased your total income and may have resulted in a smaller refund. As for your rental property, you may want to increase the rent. It is costing you more to maintain the property than you are making on it. You suffered a $1600 loss on the property in 2012. For your return I have completed the following forms.

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