EMPLOYEE or Independent CONTRACTOR?
Before hiring individuals to work as independent contractors, businesses should make sure they are on solid ground treating the workers as contractors rather than as… Read More »EMPLOYEE or Independent CONTRACTOR?
Internal Revenue Service
Internal Revenue Service or IRS
Writing off Charitable Contributions
As the year end approaches many people will donate used items to local charities. Although we applaud the efforts to help those less fortunate there… Read More »Writing off Charitable Contributions
Do you need to pay Alternative Minimum Tax (AMT)
The Alternative Minimum Tax (AMT) is designed to force many affluent taxpayers who qualify for certain exemptions to pay a greater share of taxes. Though… Read More »Do you need to pay Alternative Minimum Tax (AMT)
Make a Move, Score a TAX BREAK
Everybody likes tax breaks. For many taxpayers, the tax break they get on the gain from selling a home is one of the most valuable… Read More »Make a Move, Score a TAX BREAK
NONPROFITS: Don’t Ignore These Tax Issues
The tax-exempt status that nonprofit organizations enjoy does not relieve them of all tax-related concerns. If you are involved with a nonprofit in a leadership… Read More »NONPROFITS: Don’t Ignore These Tax Issues
Amending a Tax Return
It doesn’t happen all that often, but taxpayers sometimes receive corrected or missing tax information after they’ve already filed their federal income-tax returns. If it… Read More »Amending a Tax Return
CAPITALIZE OR EXPENSE?
Businesses and rental property owners who buy fixed assets or spend money to maintain or improve their property often ask this question. New final IRS… Read More »CAPITALIZE OR EXPENSE?
S Corporation Elections
Small business corporations that intend to elect “Subchapter S” status for the 2014 tax year still have time to submit the appropriate paperwork to the… Read More »S Corporation Elections
Attention S Corp. Owners: BE REASONABLE
Small business owners like the S corporation business structure for several reasons, two of which are tax related. For federal income-tax purposes, an S corporation’s… Read More »Attention S Corp. Owners: BE REASONABLE
The Tax Law’s “Wash-Sale Rule”
With year-end just around the corner, you may be thinking of ways to reduce your taxes. If you own stocks (or mutual funds) that have… Read More »The Tax Law’s “Wash-Sale Rule”