Intent Is Not The Same As Being Engaged What Constitutes a Trade or Business? A group of friends decided to start a business of flipping homes. Generally, the business model is to find a property … [Read more...] about Intent Is Not The Same As Being Engaged – What Constitutes a Trade or Business?
2017 Tax Cuts and Jobs Act Allows Certain Businesses a 20% Tax Deduction
Pass-Through Businesses May Receive 20 Percent Tax Deduction 2017 Tax Cuts and Jobs Act Allows Certain Businesses a 20% Tax Deduction The 2017 Tax Cuts and Jobs Act (TCJA) had several tax law … [Read more...] about 2017 Tax Cuts and Jobs Act Allows Certain Businesses a 20% Tax Deduction
2018 Home Office Deduction
2018 Home Office Deduction You Need to Understand 2018 Tax Law Changes The legal entity of the taxpayer is a determining factor when looking at the home office deduction. Employees: The 2017 … [Read more...] about 2018 Home Office Deduction
IRS INTRODUCES NEW TRANSCRIPT
IRS INTRODUCES NEW TRANSCRIPT Another Positive Step to Combat ID Theft Effective September 23, the IRS will begin to use a new transcript format that will redact personally identifiable … [Read more...] about IRS INTRODUCES NEW TRANSCRIPT
IRA Custodian Errors – Form 1099-R with Code G
IRA Custodian Errors Form 1099-R with Code G When a Code G is inserted in box 7 of Form 1099-R, the IRA custodian is representing to the IRS that the taxpayer did a non-taxable IRA rollover. The … [Read more...] about IRA Custodian Errors – Form 1099-R with Code G
IRS HOT Audit Issues
IRS HOT Audit Issues Be Prepared Substantiation Is Key to Sustain Tax Credits As a tax professional, it is relatively easy to identify some key issues that the IRS is focusing its attention. In … [Read more...] about IRS HOT Audit Issues
