You’ve made your bed, now lie in it! This is the conclusion that the Tax Court came to in the case of (Rochlani v. Commissioner, TCM, Dec. 60,397(M)). The Taxpayers (husband and wife) had an … [Read more...] about Taxpayer Who Incorporated Business Could Not Deduct Business Expenses On Personal Tax Return
Scams on PA Business Owners
We have periodically reported about identify theft scams that focus on individuals. Business owners are also susceptible to these scams. … [Read more...] about Scams on PA Business Owners
Lesson Learned from a Billionaire
Bloomberg Business has reported that the estate of billionaire William Davidson has sued Deloitte LLP for $500 million (Aaron v. Deloitte Tax LLP, 653203/2015, NYS Supreme Court, NY County, … [Read more...] about Lesson Learned from a Billionaire
AFFORDABLE CARE ACT – AFFORDABLE FOR WHOM?
The Affordable Care Act (ACA) has been quite controversial. One of the issues that the U.S. Supreme Court looked at is whether the ACA was a tax when deciding whether the ACA was constitutional. For … [Read more...] about AFFORDABLE CARE ACT – AFFORDABLE FOR WHOM?
ARE COMMUTING EXPENSES TAX DEDUCTIBLE?
While traveling from your home to your place of business is generally not tax deductible, there are exceptions. The three exceptions are: … [Read more...] about ARE COMMUTING EXPENSES TAX DEDUCTIBLE?
US GOVERNMENT INCREASING ODDS THAT YOUR IDENTITY WILL BE STOLEN?
Effective in 2016, health insurance companies will be required to provide to every individual who received minimum essential health care coverage in the 2015 calendar year with Form 1095-B, Health … [Read more...] about US GOVERNMENT INCREASING ODDS THAT YOUR IDENTITY WILL BE STOLEN?
