Tax-Saving Tips
IRS Audit Issue: SUV Built on Car Chassis
Taxpayer DJ is in an IRS audit of his 2018 tax return. It is now at the IRS appeals level. The vehicle in question is
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Business Management
IRS Focuses on Cryptocurrency: Are you Ready?
Cryptocurrencies have gone mainstream. For example, you can use bitcoin to buy far more than you would think. To see, try googling “What can I
Business Management
2021 Retirement Plans Desktop Reference for One-Person Business
You will likely want to download this handy desktop reference and save the PDF on your computer or smartphone for easy reference. In just two
Tax-Saving Tips
How to Deal with the New $142,800 Base for Self-Employment Taxes
What happens when lawmakers enact a new tax? It starts small. It looks easy. In 1935, the self-employment tax topped out at $60. Those 1935
Business Management
Congress Closes the PayPal 1099-K Reporting Loophole
When Congress passed the American Rescue Plan Act in March, it made a little-noticed change in the tax reporting rules that will make it almost
Tax-Saving Tips
New Law: Time to Benefit from the Work Opportunity Tax Credit
As you know, tax credits are the best. Suppose your business hires a member of a targeted group. In that case, you can claim the
Tax-Saving Tips
Know These Four Magic Business Mileage Rules
When you know the rules related to business mileage, you protect yourself in the event of an IRS audit, and pay less tax. Take Henry,
Tax-Saving Tips
Q&A: How Do I Get My Rental Losses onto Schedule C?
Question I’m a CPA in private practice. Please help me clarify my lifelong question regarding rental real estate and the entity structure that would allow
Business Management
Disaster Strikes: Next Trouble, an IRS Audit
Your office burns to the ground in a fire. You barely escape with your life. Everything in your office is destroyed, including all of your
Tax-Saving Tips
How Renovating a Historic Building Can Put Money in Your Pocket
The federal Rehabilitation Tax Credit, or rehab credit, offers significant financial incentives for owners or leaseholders of historic buildings to renovate those structures. What’s the
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