Your Guide to State, Local, Federal, Estate + International Taxation

IRS agents and the problem with ride-sharing

Imagine your car won’t start early one morning before work. You have an important meeting to get to. What do you do? This has probably happened to the majority of us at one time or another. Most people would call a friend or take a cab, Uber, or Lyft. Well, IRS Agents better think twice …

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Miscellaneous expenses: For when it just can’t quite be classified

During the final push through the recent extension deadlines, I had more than a few small business clients send me their books, all in good shape and ready to prepare their tax return – or so they promised. I think most tax preparers will agree, as deadlines loom closer, the level of detail at which …

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How to respond to a nexus questionnaire

In the current economic landscape, more and more states are feeling the budget crunch. To raise revenues, states are sending nexus questionnaires to out-of-state businesses. Be careful in how you respond to these or else your company may be subject to additional tax liabilities. What is a nexus questionnaire? Nexus questionnaires are forms produced by states that …

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Medicare: Things you need to know, but don’t want to ask

Turning 65 in September was a momentous life event for me. Birthday celebrations, my thoughts becoming more focused on retirement and my eligibility for Medicare. I was no longer eligible for my employer’s health savings account and I needed to sign up for Medicare to provide my medical insurance coverage. It is unbelievable the amount …

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Oregon’s new tax

Oregon is one of the five states that does not have a state sales tax, but it is now adding a Corporate Activity Tax to make up for that lost state income. With the goal of raising approximately $1 billion in new annual revenue, the new tax will paint a broad stroke on more than …

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Protect your heart and wallet from online romance scams

On September 25th the FTC announced a lawsuit against the online dating service Match.com, challenging several of Match’s business practices. One of which has exposed customers to romance scammers. Don’t miss: Property lien scams Free Match.com account holders got notifications to read messages from potential admirers. If they paid to read that message, they probably …

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IRS warns taxpayers of property lien scam

This month the IRS issued a Tax Tip warning taxpayers about fake property liens. This is just one of many scams out there designed to trick you into paying money for fictitious bills. Don’t miss: IRS issues warning to virtual currency owners Here are some of the attributes of the scam that the IRS wants …

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IRS issues warning to virtual currency owners

Recently, the IRS began sending letters to taxpayers involved in virtual currency transactions notifying them that they may have failed to properly report income or adequately report their transactions. These letters began going out in July and continued through at least the end of August. 10,000 taxpayers are expected to receive these letters. 5 tips …

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5 tips after changing your name due to marriage or divorce

So, you married the love of your life? Or maybe you left him in the gutter where you found him? Either way, the IRS wants you to know that whatever your name is, the name on your tax return must match the name registered with the Social Security Administration (SSA). Here are five things to keep in …

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Managing client expectations

When a trusted advisor tells you that the project you are waiting for will be done by the end of the week, you expect the project to be done by the end of the week. When Friday rolls around and you have not heard from your advisor, you may not be very happy about the …

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