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February 15, 2018

You probably know that you can get an income tax deduction for a gift to a charity if you itemize your deductions. But there is a lot more to charitable giving. For example, you may be able to indirectly benefit a family member and a charity at the same time and still g...

February 6, 2018

As someone who is provided with a company auto, you appreciate the convenience and dollar savings that this important "perk" provides, but at the same time would like to minimize the tax consequences of your personal use of the auto. Although the most effective dollar-s...

January 31, 2018

The IRS has issued final regulations regarding the deductibility of local lodging expenses. In the past, employees were able to deduct expenses for job travel away from home, but could not deduct lodging expenses for the cost of staying in the locality where they work (...

January 23, 2018

INTRODUCTORY PARAGRAPHS TO BE USED FOR ALL CRITERIA

Currently, the likelihood of your business being involved in a worker classification or employment tax audit is increased because the IRS is aggressively attempting to reduce the “tax gap,” which is the annual shortfall...

January 4, 2018

If you work out of your home, you are part of a growing trend. What's important to you, however, is that you may qualify for some valuable federal income tax deductions. You may be able to deduct part of your home's normal operating expenses for items such as utilities...

December 4, 2017

While your employer may be reimbursing you for some of these expenses, there may be others for which you are bearing the cost yet not utilizing the tax benefit. Through proper substantiation, it is possible that you may be able to obtain greater reimbursement from your...

December 1, 2017

Many businesses consider the occasional wining and dining of customers and clients just to stay in touch with them to be a necessary cost of doing business. The same goes for taking business associates or even employees out to lunch once in a while after an especially t...

November 24, 2017

Generally, taxpayers are entitled to deduct ordinary and necessary expenses paid or incurred while traveling away from home in their business, profession, or for-profit activity. If any part of the business travel is outside the United States, however, some of the deduc...

April 17, 2017

The IRS has issued final regulations providing rules for determining whether income is either (1) derived from sources within a U.S. possession or territory, or (2) effectively connected with the conduct of a trade or business within a possession or territory (territory...

March 16, 2017

You probably know that you can get an income tax deduction for a gift to a charity if you itemize your deductions. But there is a lot more to charitable giving. For example, you may be able to indirectly benefit a family member and a charity at the same time and still g...

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