Complying with Tax Laws

IRS Targeting S Corporations in new Audit Program

IRS Targeting S Corporations in new Audit Program The IRS has been targeting S corporations for many years, often to determine if the corporate shareholders are properly reporting all income on their personal tax returns. [...]

Tax Planning Tips for Businesses and the New Section 199A.

Tax Planning Tips for Businesses and the New Section 199A. The IRS has recently issued 184 pages of regulations concerning a few provisions of the brand-new (in 2018) Section 199A of the Internal Revenue Code.  [...]

Business Tax Planning|

Paying Management or Consulting Fees from one of your Businesses? Beware the Tax Rules

Paying Management Fees from one of your Businesses? Beware the Tax Rules A recent Tax Court case (Little Mountain Corporation v. Commissioner) had to deal with a family that owned several different businesses (with common ownership). These [...]

New Tax Issues for Online Retailers

New Tax Issues for Online Retailers If you sell any products (but not services) via your website, you may now have additional tax issues concerning sales taxes.  Considering the recent US Supreme Court ruling, online [...]

2018 IRS “Dirty Dozen” Tax Scams

Every year, the IRS posts its version of the "Dirty Dozen"- the 12 most prevalent tax scams out there for the year.  And this year is no different.  Following/implementing any of these scams is a [...]

Bitcoin and other Virtual Currency and a few Tax Tips!

Virtual Currency/ Bitcoin Taxation Bitcoin and other virtual currency are treated as “property” for tax purposes. For purposes of this article, I will refer to “virtual currency” with the understanding that it potentially could include [...]

IRS Dirty Dozen For 2017: Tax Scams to Avoid

Every year, the IRS posts its version of the "Dirty Dozen"- the 12 most prevalent tax scams out there for the year.  Following/implementing any of these scams is a sure way to trouble with the [...]

IRS Highlights Important 2016 Tax Changes

In Fact Sheet 2017-1, the IRS has highlighted some of the important 2016 tax changes that affect the current filing season. These include: Three extra days to file and pay. Taxpayers will have until Tuesday, [...]

IRS Warns of Tax Scams

IRS Wraps Up the "Dirty Dozen" List of Tax Scams for 2016 IR-2016-29, Feb. 19, 2016 WASHINGTON — The Internal Revenue Service today wrapped up its annual "Dirty Dozen" list of tax scams with identity [...]

Are you part of the “Sharing Economy”

The IRS has a new category of potential audit victims: the sharing economy. This "new" economy, at least according to the IRS, includes "websites and mobile apps such as Airbnb, Uber, Lyft, TaskRabbit and Handy [...]