IRS Tax Planning Ideas, Tips & News

Regardless of the legal entity a business uses for reporting its income taxes, business owners eventually ask their CPA the following question: “Can I deduct my golf club dues as a federal income tax … [Read more...] about Country Club Dues

There are many perceived benefits that come from being your own boss. If you work for yourself, as an independent contractor, or you carry on a trade or business as a sole proprietor, you are … [Read more...] about Tax Tips for the Self-Employed

Successful tax planning includes a review of your available deductions and the impact of your filing status on your option to itemize. It is important that all of the technical requirements for your … [Read more...] about 2012 Tax Planning – Maximizing Itemized Deductions

Are you in compliance with the IRS rules regarding FBAR? The IRS amended the questions on the 2011 Schedule B of Form 1040. The 2011 form not only asks whether the taxpayer has a foreign trust or … [Read more...] about Foreign Bank Account Reporting (FBAR): Are you in compliance?

The IRS estimated that it had $1 billion in unclaimed tax refunds waiting for you … [Read more...] about How To Get Your Hands on $1 Billion

A very successful California entrepreneur was denied an $18.5 million tax deduction for his charitable donations because he failed to follow the IRS substantiation rules when filing his self-prepared … [Read more...] about Hazards of Not Following IRS Rules & Regulations