If you are like most people, you detest the daily rate that the car rental companies charge for their insurance coverage. I wish to share a personal experience with you. The last time that I … [Read more...] about RENTAL CAR INSURANCE – EXPENSIVE AND NECESSARY?
Archives for June 2016
This is a tale of two taxpayers being audited by the IRS for non-cash charitable contributions. Let’s see how their audit exams went. Taxpayer A (let’s call her Mary) made $3,000 worth of … [Read more...] about TALE OF TWO TAXPAYERS AND NON CASH CHARITABLE CONTRIBUTIONS
Some employers allow employees to defer current earnings until their retirement years. There are numerous rules regarding the taxation of deferred compensation which may include how long the … [Read more...] about DEFERRED COMPENSATION – HOW IS IT TAXED?
Ronald Weiszmann (Weiszmann v. Commissioner, U.S. Tax Court) graduated from college as an engineer. Not wishing to be employed as an engineer, Mr. Weiszmann took a job with Marathon Oil Company as a … [Read more...] about EDUCATION EXPENSES THAT ARE NOT TAX DEDUCTIBLE