“When Tax Preparer Fraud Keepsthe IRS Audit Door Open Forever” To get my complete article with all the details… She filed her returns on time. Paid what she owed. Had no idea anything was wrong. Twenty-seven years later, the IRS came knocking—demanding $65,000 in tax, $13,000 in penalties, and over $250,000 in interest. The reason? Her tax preparer had committed … [Read more...]
Husband-and-Wife LLC—Do They Have to File a Partnership Return?
“The Filing Burden HiddenInside a Married-Couple LLC” To get my complete article with all the details… A married couple forms an LLC to hold rental property. Smart move for liability protection. But now what? Do they have to file a partnership return? The answer depends on where they live—and how they structured ownership. There are exceptions that let some … [Read more...]
USPS’s New Postmark Rules Set an Ugly Trap for Taxpayers
“The USPS Rule That CanCost You with the IRS” To get my complete article with all the details… If you still rely on mailing tax documents at the last minute, there’s a new problem you probably haven’t heard about. Thanks to quiet USPS changes, “mailed on time” no longer guarantees “filed on time.” Even when you do everything right, the IRS may say you didn’t—and the … [Read more...]
Should You Skip Home-Office Depreciation to Dodge Recapture?
“Should You Skip Home-OfficeDepreciation to Dodge Recapture?” To get my complete article with all the details… If you’re like most taxpayers, just hearing the words “recapture tax” is enough to make you nervous. Many business owners and professionals assume the safest move is to skip depreciation on the home office altogether—just to avoid trouble later. But … [Read more...]
When Work Clothes Are—and Aren’t—Tax Deductible
"When Work Clothing Is Deductible" To get my complete article with all the details… Ever looked at a closet full of work clothes and wondered, “Can any of this actually be deducted?” You’re not alone—and the answer isn’t as obvious as it should be. The IRS draws a sharp (and sometimes surprising) line between what counts as a legitimate work expense and what it … [Read more...]