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Home » tax

What is a 1099-K?

One new phenomenon that gained prominence during 2011 tax season is a new form called “1099-K”.  Not to belabor the point, …

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IRS Eliminates 1099K Reconciliation

The Internal Revenue Service has eliminated the requirement regarding how credit -and debit card payments are accounted for …

Read moreIRS Eliminates 1099K Reconciliation

S Corporation shareholder’s compensation must be reasonable.

A recent court decision reported that an S corporation shareholder’s salary should be a reasonable compensation. …

Read moreS Corporation shareholder’s compensation must be reasonable.

New Tax Treatment of Cell Phones for Business

Lifts Record Keeping Burden for Small Business The IRS categorization of mobile phones as listed property required business …

Read moreNew Tax Treatment of Cell Phones for Business

“Offer in Compromise” — Method to Resolve Debt

What is an “Offer in Compromise” (OIC)? For tax payers overburdened by tax debt, the IRS provides for an “Offer in …

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Hot Tax Tips for 2011

HOT TAX TIPS FOR 2011 1. If you donate stock directly to a charity instead of cash you can get a charitable deduction for the …

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Common Tax Errors to Avoid

COMMON TAX ERRORS 1. If you had a baby during 2011, you must get a Social Security number for the child before filing your …

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Tax Rule for U.S. Citizens and Resident Aliens Abroad

Tax Rule for U.S. Citizens and Resident Aliens Abroad For citizens of the United States and resident aliens living abroad, …

Read moreTax Rule for U.S. Citizens and Resident Aliens Abroad

VOW to Hire Heroes Act provides tax credits

President Obama signed a new law providing a tax credit to employers who hire military veterans. Named the “VOW to Hire …

Read moreVOW to Hire Heroes Act provides tax credits

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