IRS Audits on Entertainment Deduction
Here’s a true tax story that you will find interesting. John Henry is engaged in an IRS audit, and he [...]
Expense Your Business Costs Using the Safe Harbor Method
For 2018, you can elect the de minimis safe harbor to expense assets costing $2,500 or less ($5,000 with audited [...]
S Corporation and Health Insurance
You and your S corporation continue to enjoy good news in 2018 when it comes to your health insurance. And [...]
The 10% Solution: Painless Retirement Savings for All
Many people insist they simply can’t save for retirement. They say that by the time they receive their paycheck, the [...]
Deduct Business Mileage by Setting Up a Home Office
The IRS gives you two possible strategies for turning otherwise personal mileage into business mileage: Going to a temporary work [...]
What You Need to Know About the Kiddie Tax
When it comes to college planning, our lawmakers created some real traps. One big trap is the kiddie tax. This [...]
New Tax Law & Recommendations
The new Tax Cuts and Jobs Act is official and will affect millions of Americans and businesses. Here are the [...]
Save Money by Buying Antiques
Here’s a good business rule to follow: buy low and sell high. That’s good, but the three-step process below is [...]
How the IRS Can Use Form 1099-K to Audit Your Business
Form 1099-K reports credit card sales to the IRS and also gives the IRS another audit weapon. The rules have [...]
Where There’s a Will, You need a Plan
It sounds like the setup for a joke: A rich uncle dies and leaves you a fortune. But what happens [...]