Julius Caesar Had His Ides of March – You Need to Avoid Having Your Ides of July BACKGROUND Due to the corona virus pandemic, the IRS due date for filing your 2019 Form 1040 has been postponed … [Read more...] about July 15, 2020 – Day of Reckoning?
IRS Tax Planning Ideas, Tips & News
Schedule C Filers – Take Note
Remember It Takes Two to Tango - When You Sign Your Tax Return, You Are Attesting, Under Penalties of Perjury That Your Return Is True and Correct - Don’t Become a Co-Conspirator Let’s … [Read more...] about Schedule C Filers – Take Note
Employers Take Note: New Version of Form I-9 is Available
A New Version of Form I-9 is Available – Employers Need to Use This Form When Hiring New Employees What is Form I-9? Federal law requires that every employer who recruits, refers for a fee, … [Read more...] about Employers Take Note: New Version of Form I-9 is Available
Hogs Get Slaughtered – IRS Reclassifies Business Deductions as Non-Deductible Personal Expenses
IRS Visits Marina and Discovers Lots About Taxpayer’s “Business Deductions” Background Carlos and Pamela Langston (taxpayers) (TC Memo 2019-19) purchased a marina. The marina’s primary location … [Read more...] about Hogs Get Slaughtered – IRS Reclassifies Business Deductions as Non-Deductible Personal Expenses
How Does Your Business View Taxes?
Do You Simply Complain About Taxes, or Do You Have a Strategic Plan to Reduce the Taxes You Pay? Background We have yet met a businessperson who does not complain about paying income taxes. The … [Read more...] about How Does Your Business View Taxes?
Tax Treatment for Family Members Working in the Family Business
It May be Advantageous to Employ Your Spouse, Children, & Parents in Your Family Business, But You Need to Understand the Tax Rules Both Spouses Carrying on Trade or Business If spouses … [Read more...] about Tax Treatment for Family Members Working in the Family Business
