“IRS Makes a Mess of the ERC—Here’s What to Do Now” To get my complete, FREE articlewith all the details… It’s war. That’s right. The IRS is waging war against improper ERC claims. (Employee Retention Credits.) The result? Many tax professionals are becoming overly conservative with their past, current, and future filings for 2020 and 2021 employee retention … [Read more...]
Tax Planning
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Tax-Free Income From 14-day “Augusta rule”
“Tax-Free Income From 14-day“Augusta rule” To get my complete, FREE articlewith all the details… Are you running an S corporation? Then you should know about the Augusta rule. The Augusta rule gets its name from the Masters Golf Tournament where some members and others who live in the area, receive tax-free rent by renting their homes out for a week or two. … [Read more...]
Why Did Duncan Bass Make 172 Trips to Goodwill and the Salvation Army?
Why Did Duncan Bass Make 172 Trips toGoodwill and the Salvation Army? To get my complete, FREE articlewith all the details… You may remember Duncan Bass from last month’s article: Court Denies Clothing Donations to Goodwill and the Salvation Army. You also may remember that Mr. Bass made the 172 trips to Goodwill and the Salvation Army to keep each receipt below … [Read more...]
How To Deduct Travel by Car, Train, Plane, or Boat
“How To Deduct Travel by Car,Train, Plane, or Boat” To get my complete, FREE articlewith all the details… If you travel for business purposes, my new article is for you. You see, I’ll explain the complex rules that govern tax deductions for business travel by car, train, plane, or boat. EXAMPLE: Say you are going to travel … [Read more...]
Should You Convert Your Personal Vehicle To Business Use?
“Should You Convert Your PersonalVehicle To Business Use?” To get my complete, FREE articlewith all the details… Thinking about converting your personal vehicle to business use? You may be on to a good thing. For starters, let’s check out these factsthat should impact your decision. When it comes to your taxes, most personal assets, other than your home, are … [Read more...]