There are two methods to compute the amount of tax deductible vehicle (auto) expense. A taxpayer can deduct actual auto expenses or use the standard mileage rate. While the taxpayer is free to choose … [Read more...] about AUTO EXPENSES – ACTUAL VS. STANDARD MILEAGE RATE
IRS Tax Planning Ideas, Tips & News
IRS DESIGNATED PRIVATE DELIVERY SERVICES
Taxpayers have the burden of proving that tax returns and tax payments are made. For those taxpayers who mail their returns and tax payments (rather than remit their returns and tax payments … [Read more...] about IRS DESIGNATED PRIVATE DELIVERY SERVICES
REAL ESTATE PROFESSIONAL – NEED A LOG BOOK?
A rental real estate activity is subject to the passive loss limitation rules. Thus losses from this type of activity may be restricted, meaning that a taxpayer often cannot use the losses to offset … [Read more...] about REAL ESTATE PROFESSIONAL – NEED A LOG BOOK?
WHERE IS MY TAX REFUND?
You filed your tax returns and have anxiously been waiting for your refund. You may be asking yourself: “Where is my refund? Why hasn’t my refund been sent to me?” One reason that the issuance of … [Read more...] about WHERE IS MY TAX REFUND?
TELECOMMUTING – MULTI-STATE ISSUES FOR EMPLOYER & EMPLOYEE
The tax issues related to individuals who telecommute (work from their home for their employer) are complex. This posting addresses the tax issues associated with employees who telecommute, not those … [Read more...] about TELECOMMUTING – MULTI-STATE ISSUES FOR EMPLOYER & EMPLOYEE
RETIREMENT CRISIS – ARE YOU PREPARED?
If you are using your tax professional only for tax preparation services, you are short-changing yourself. An experienced tax professional is an excellent resource for tax planning strategies and … [Read more...] about RETIREMENT CRISIS – ARE YOU PREPARED?
