Blog
Joe Biden’s Bold Tax Loophole
In case you missed it, presidential candidate and former Vice President Joe Biden released his tax returns this summer. He makes a lot, but that’s not what has business owners and accountants...
Bonus Depreciation Relief For Some 2017-18 Purchases
The IRS will now permit taxpayers to change their bonus depreciation treatment for property acquired after Sept. 27, 2017, and placed in service during a tax year that includes Sept. 28,...
No Uber For The Tax Man
Are auditors and other IRS agents allowed to get a ride from a ridesharing service--or even a friend or family member--to a taxpayer’s home or place of business? It depends on whether doing so...
Five IRS Audit Mistakes To Avoid
The IRS audits about 1 million taxpayers each year. While the agency is understaffed, that doesn’t mean you’ll slip through the cracks. IRS software automates the selection process now by...
5 IRS Audit Mistakes To Avoid
The IRS audits about one million taxpayers each year. While the agency is understaffed, that doesn’t mean you’ll slip through the cracks. IRS software automates the selection process now by...
Taxability Of Employee Snacks Versus Meals
Here’s something to chew on: The IRS continues to clarify its position on deducting the cost of free food provided to employees. This time, office snacks get a delicious boost while other meals...
The Downside To Overworking
Always working? New research shows a startling downside for being overly “productive.” It doesn’t work, and it can actually shorten your life. Researchers at Columbia University Medical...
Monsanto Settlements: The IRS Is The Biggest Winner
Lawsuit settlements just became more profitable…for the IRS. Under the new tax code, most personal claims are now taxed at 100% with no deduction for legal fees. That’s right: In those...
Small Contractor Tax Relief: Do You Qualify?
If you’re a small business contractor with annual gross receipts averaging $25 million or less in the past three-year period, the recent tax changes may have given you a valuable leg up. The...
Employee Theft Could End Your Business
Fraud is all around us these days, but it’s not just strangers who find us vulnerable. Your own employees could be stealing from you. The problem can be especially devastating for small...