I’m often asked if a particular expense is tax deductible. Everyone is looking for a deduction! In general, only expenses incurred in a trade or business (IRC §162) or those incurred in the production of income (IRC §212), will be deductible on an individual tax return. 403 more words
Tags » I.R.S.
The Street: “The government may start stripping passports from delinquent taxpayers. Can that really be done”
“The Surface Transportation Reauthorization and Reform Act is likely about to become law. 453 more words
Filing taxes jointly is a whole new ballgame from filing single. Knowing when to file by yourself opposed to with your spouse in entirely up to you – but sometimes there is a financially better way. 120 more words
The IRS Raises Tangible Property Expensing Threshold to $2,500; Simplifies Filing and Recordkeeping for Small Businesses
On the night of Tuesday, November 10, 2015, the eight highest-polling candidates for the Republican nomination for President convened in Madison, Wisconsin, for the fourth in a series of debates intended to help voters decide who will represent the GOP in the following year’s general election. 870 more words
Tax scammers are again at work and your small businesses could be vulnerable just like other consumers. Authorities insist calls from scammers claiming to be with the Internal Revenue Service are on the rise around the country. 85 more words