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More ➤The 12 days of tax planning countdown- for web
More ➤In a recent case, an appeals court upheld the Tax Court’s decision that a bookie’s plea agreement on criminal charges does not bar a civil action for unpaid taxes. Gary Kaplan operated an illegal sports…
More ➤Under the Affordable Care Act, large employers are required to file information returns with the IRS and provide statements to full-time employees. You are a large employer if you employed, on average, 50 full-time equivalent…
More ➤When starting a new business, a wise first step is to seek the advice of your CPA. Some things you might want to consider before starting the business: Business Structure – Determining the business structure…
More ➤Most people are probably familiar with the general tax rule about hobbies: You can deduct expenses only to the extent that you have income from the hobby. This rule applies to individuals, S corporations,…
More ➤The U.S. Tax Court settled a case in July between a landlord and a tenant who wasn’t paying rent – and the court came down on the side of the tenant. John E. Burgess…
More ➤The U.S. Tax Court recently upheld the IRS’s frivolous return position, costing a taxpayer $10,000 in fines. Mark A. Lovely failed to file tax returns for 2005, even though he admitted that he had…
More ➤Qualified education expenses under the American Opportunity Tax Credit are basically tuition, fees and course materials. The tuition must be paid to an eligible educational institution. An “eligible educational institution” is generally any accredited…
More ➤If you have something called qualified dividend income, it receives special tax treatment. Qualified dividend income is defined as dividends received during the tax year from a domestic corporation or a qualified foreign corporation….
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