17 May Reimbursements for Employee Business Expenses
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Taxesq - IRS Audit and Business Tax Estate Attorney Cherry Hill NJ
14 May Deducting Business Travel with Vacation
Can you deduct business travel when it’s combined with a vacation?At this time of year, a summer vacation is on many people’s minds. If you travel for business, combining a business trip with a vacation to offset some of the cost with a tax deduction...
07 May IRS Audits of Businesses
IRS Audit Techniques Guides provide clues to what may come up if your business is auditedIRS examiners use Audit Techniques Guides (ATGs) to prepare for audits — and so can small business owners. Many ATGs target specific industries, such as construction. Others address issues that...
30 Apr New Tax Act changes affecting Small Business
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in bonus depreciation, business expenses, business meals, IRC Section 179, tax reform
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A review of significant TCJA provisions affecting small businessesNow that small businesses and their owners have filed their 2017 income tax returns (or filed for an extension), it’s a good time to review some of the provisions of the Tax Cuts and Jobs Act (TCJA)...
23 Apr How Long Should Businesses keep tax documents?
Tax document retention guidelines for small businessesYou may have breathed a sigh of relief after filing your 2017 income tax return (or requesting an extension). But if your office is strewn with reams of paper consisting of years’ worth of tax returns, receipts, canceled checks...
15 Apr Net Operating Losses can be useful at tax time!
A net operating loss on your 2017 tax return isn’t all bad newsWhen a company’s deductible expenses exceed its income, generally a net operating loss (NOL) occurs. If when filing your 2017 income tax return you found that your business had an NOL, there is...
12 Apr If Your Tax Preparer does not Sign the return ….RUN!
IRS on April 10 cautioned taxpayers to avoid the dangers of working with so-called "ghost" tax return preparers. As described by the agency, a ghost preparer is retained to prepare a return for a fee but does not sign the document as the paid preparer. "These...
30 Mar IRS Audits and Collections down for 2016-2017
IRS Audits and Collections down for 2016IRS has issued the 2017 IRS Data Book, its annual publication containing statistical tables and IRS organizational information. One key figure in the Data Book is the rate at which IRS audited returns in 2017 – it dropped to...
26 Mar Tax Deadlines for 2018
2018 Q2 tax calendar: Key deadlines for businesses and other employersHere are some of the key tax-related deadlines affecting businesses and other employers during the second quarter of 2018. Keep in mind that this list isn’t all-inclusive, so there may be additional deadlines that apply...