So, your best friend needs a loan to get a cheap car. You agree to give him $5,000 and he will pay you back in a year. At least that […]
Taxes and Personal Loans
IRS
Claiming Dependency for Kids That Don’t Live with You
What happens on your tax return when your children are living with someone else (such as your ex-spouse)? As with every tax situation the answer is, “It depends.” If your […]
BEWARE – 8300 filings
Do you ever accept cash as a payment in your business? Well legally, you have to accept any legal tender which includes cash. However, most people do not carry $200 […]
Right to Privacy
Do you have a right to privacy? Well, according to the Bill of Rights Amendment 4 you have the right “to be secure in their persons, houses, papers and effects […]
Phone Scams
We have all gotten those e-mails from the Nigerian prince asking for bank information so he can safely get money out of his country, but what if the IRS calls […]
So what’s the Point?
Today I came across an article about “share services” (Uber, Airbnb etc.) I had never even heard it called that. The article was questioning if these people knew the tax […]
It Depends
Ever wonder why you can’t get a straight answer from your accountant or bookkeeper? Seems every time you ask them a question; they’re always answering with something like, “It depends.” […]
The cost of tax compliance
Have you ever thought about the time both you, and your bookkeeper or your accountant spend to make sure you are doing everything you need to do to be in […]
Can a Medical Reimbursement Plan save you taxes?
Medical Reimbursement Plans are a great tax strategy for most businesses. Flexible Spending Accounts are a form of a Medical Reimbursement Plan. What a MERP does, is it allows a […]
The Good, the Bad and the Ugly of dealing with the IRS
Everyone panics when they get any correspondence from the IRS, even if it’s a good notice (yes, they do have those). The first step: Don’t Panic. The second step, don’t […]