If you use your vehicle in pursuit of a trade or business, you may be allowed to deduct the ordinary and necessary expenses incurred while operating the vehicle. However, any expenses associated with … [Read more...] about Vehicle Depreciation and Deductions
IRS WARNS TAXPAYERS ABOUT PHONEY IRS WEBSITES
The IRS is warning taxpayers about scams that involve websites that mimic the IRS e-Services online registration page. Apparently, taxpayers are being contacted and told to register on the IRS … [Read more...] about IRS WARNS TAXPAYERS ABOUT PHONEY IRS WEBSITES
RECENTLY ANNOUNCED 2013 TAX ADJUSTMENTS
There are numerous tax law changes to occur beginning January 1, 2013 (assuming that Congress and the White House cannot agree to extend these tax provisions). While the items below are not … [Read more...] about RECENTLY ANNOUNCED 2013 TAX ADJUSTMENTS
IRS Accepting More Offers-in-Compromise?
Do you owe the IRS significant amounts for back taxes, are subject to wage garnishments or bank levies? Depending upon your financial situation, you may be a candidate for an offer-in-compromise … [Read more...] about IRS Accepting More Offers-in-Compromise?
DEDUCTING A CASUALTY LOSS
Since Hurricane Sandy is projected to cause considerable property damage, it may be timely to review the IRS rules regarding claiming a casualty loss. Casualty (e.g., fire and storm) (and theft) … [Read more...] about DEDUCTING A CASUALTY LOSS
IRS ISSUES GUIDELINES FOR ACCOUNTABLE PLANS
For those who may not be familiar with an “accountable plan”, let’s begin by explaining what a “non-accountable” plan is. Non-accountable plans are where the employer provides the employee with an … [Read more...] about IRS ISSUES GUIDELINES FOR ACCOUNTABLE PLANS
