When your tax professional inquires if you had an interest in or controlled one of more foreign accounts with an aggregate value above $10,000 at any time during the calendar year, give this question … [Read more...] about Schoolteacher Assessed $800,000 FBAR Penalty
IRS Changes Back-Up Withholding Rate
IRS Changes Back-Up Withholding Rate IRS Issues Publication 1281 Effective January 1, 2018, the 2017 Tax Cuts and Jobs Act reduced the backup withholding rate from 28 percent to 24 percent. If you … [Read more...] about IRS Changes Back-Up Withholding Rate
Contemporaneous Mileage Log Book
Contemporaneous Mileage Log Book No Mileage Log Book = Lost Tax Deduction Business owners who use a vehicle in their business are required by the IRS (and the courts) to substantiate their … [Read more...] about Contemporaneous Mileage Log Book
New Jersey and Pennsylvania Reaction to Wayfair Decision on Nexus Thresholds
New Jersey and Pennsylvania React to Wayfair Decision on Nexus Thresholds NJ & PA React to U.S. Supreme Court Wayfair Decision Our July 24, 2018 blog alerted our readers to the U.S. Supreme … [Read more...] about New Jersey and Pennsylvania Reaction to Wayfair Decision on Nexus Thresholds
Utilities – PA DOR Continues Assault on Home Office Deduction
Utilities - PA DOR Continues Assault on Home Office Deduction PA Dept. of Revenue’s Revised Onerous Requirement for Reporting Sales Tax on Utilities In our March 17, 2015 posting, we discussed … [Read more...] about Utilities – PA DOR Continues Assault on Home Office Deduction
How Much Do You Charge to Prepare a Simple Tax Return?
How Much Do You Charge to Prepare a Simple Tax Return? Is There a Hidden Message in this Question? Penny Wise and Dollar Foolish Thoughts With each passing week as the April 15 due date … [Read more...] about How Much Do You Charge to Prepare a Simple Tax Return?
