Taxation of Health Insurance for S Corp Owners
Apr 17, 2019
S corporation owners may get some tax benefit from heath insurance costs, which many overlook. About S Corporation Subchapter S corporations are not new. Taxpayers have been able to make S corp elect...
See Full Guide
What to Know About Foreign Bank Account Reporting & FBAR Penalties
Jul 21, 2018
U.S. citizens (and others) are required to report certain interests in foreign bank and financial accounts. The failure to comply with this information reporting can trigger significant civil and even...
See Full Guide
The Foreign Housing Income Tax Exclusion
Jun 24, 2018
U.S. citizens and resident aliens are taxed on their worldwide income. However, U.S. citizens or residents who work and live abroad may qualify to exclude some or all of the amounts paid for their for...
See Full Guide
Is Your Worker an Employee or Contractor: The Tax Rules
Jun 23, 2018
Is your worker an employee or a contractor? This is a frequent dispute between taxpayers and the IRS. Misclassified employees can result in significant penalties and interest. Here is what the employe...
See Full Guide
Sending Mail to the IRS: The IRS Mailbox Rule
Jun 20, 2018
If I mail a tax document to the IRS, when is a tax document received by the IRS? Hint: it isn’t always when the IRS takes physical possession of the document. The common law and IRS mailbox rules can ...
See Full Guide
The Trust Fund Penalty: When Business Debts Become Personal
Jun 17, 2018
The trust fund recovery penalty is the IRS's most effective tool for collecting unpaid employment taxes. The penalty allows the IRS to collect business taxes from the responsible corporate officers or...
See Full Guide
What is Deductible? 7 Points to Know
Jun 14, 2018
Can you deduct the cost of \_\_\_\_\_\_\_\_\_\_ (fill in the blank)? If you have been wondering what the answer is to this question, read on.... Tax Deductions, Generally Our tax laws are statutory, m...
See Full Guide
The FICA Tip Tax Credit: An Often Overlooked Tax Benefit
Jun 13, 2018
Restaurant and bars pay a significant amount of taxes. This includes paying FICA or payroll taxes. Congress provided an income tax credit to help mitigate the impact of the high payroll taxes these bu...
See Full Guide
The IRS Civil Tax Fraud Penalty: What You Need to Know
Jun 12, 2018
The civil tax fraud penalty is one of the most draconian penalties the IRS can assess. Like all things tax, there are rules that apply. This article addresses the rules the basic rules in the Code and...
See Full Guide
Innocent Spouse: Equitable Relief for Unpaid Tax Debts
Jun 09, 2018
Unpaid tax debts can be a contributing factor that leads to divorce. Innocent spouse relief can provide a remedy in this situation. This article addresses equitable relief. Equitable relief provides a...
See Full Guide
Ad
Transform legal challenges into solutions.
Connect now to review your situation.
The Avvo Rating explained
The Avvo Rating explained