“The IRS Dirty Dozen List:More Than Just a Gimmick” To get my complete, FREE articlewith all the details… For over 20 years, the IRS has released a series of notices identifying tax scams and avoidance schemes. The IRS calls these scams andschemes the “Dirty Dozen.” I know. The IRS’s annual Dirty Dozen list may sound like a gimmick, but taxpayers should take it … [Read more...]
Working Overtime? Get your Tax-Free Supper Money
“Working Overtime? Get your Tax-Free Supper Money” To get my complete, FREE articlewith all the details… In this article, you’ll learn how the Tax Cuts and Jobs Act(TCJA) tax reform applies to your supper-money meal-allowance, and discover the four rules that give you thetax deduction, at least for now. It would be great if all your company’s work could be completed … [Read more...]
Improper ERC Claim? Pay Back 80%, Keep the Rest
“Improper ERC Claim?Pay Back 80%, Keep the Rest” To get my complete, FREE articlewith all the details… Did you improperly claim an employee retention credit (ERC)? Well, if you expect the IRS to punish you with painful penalties, perhaps not. As things stand now, all you have to do is return 80% of the credit to the IRS and keep the remaining 20%, including … [Read more...]
There’s Extra Tax When You Sell Qualified Improvement Property (QIP)
“There’s Extra Tax When You SellQualified ImprovementProperty (QIP)” To get my complete, FREE articlewith all the details… Do you own, or are you just thinking of owning, an office building. Or perhaps a store, a warehouse, or a factory building? If you are, there’s every chance you’re thinkingof making improvements to the interior of yourbuilding. If you do make … [Read more...]
Overfunded 529 College Savings Accounts
“Overfunded 529College Savings Accounts” To get my complete, FREE articlewith all the details… Funding a 529 college savings account can be a great idea. But what happens if you overfund your 529 plan? In this issue of the Tax Reduction Letter, I’ll provide you with flexible strategies that help solve a wide range of problems. Scenario #1: What happens to … [Read more...]