Oct 30, 2017 | Helpful Articles
When a repair shop replaces a part in a car, they remove the old one. It’s no longer of any use in its current state, and it certainly isn’t left in the vehicle, bolted up next to the new one. Due to some changes in the law a few years ago, real estate owners are...
Sep 13, 2017 | Helpful Articles
So, you’re a parent and your child needs braces. How do you go about getting a discount on the money you use to pay for this expense? Let’s use an example of a taxpayer with an effective tax rate of 20% and braces for their child costs $6,000, using tax free money...
Jul 18, 2017 | Helpful Articles
Most business owners understand the term “Nexus” as having enough contact with a state before that state can require a business to collect its tax or otherwise subject it to its taxing authorities. Without “Nexus” there is no obligation to file a return with that...
Jun 28, 2017 | Helpful Articles
If fortunate enough to sell a home for more than the total gain exclusion, there is also a need to know how much the total gain is. Determining the sale price is easy, that’s the sale price listed at the top of the purchase and sale statement or the HUD-1 form...
May 30, 2017 | Helpful Articles
Even with the last significant change going back to 1997, the rules for when a personal residence can be sold tax free are often misunderstood. Selling a home isn’t a daily occurance for most people and it’s not uncommon for the prior rules to have been in place the...
Mar 4, 2017 | Helpful Articles
The Internal Revenue Service, state tax agencies and tax industry leaders are warning tax professionals to be alert to an email scam from cybercriminals posing as clients soliciting their services. A new variation of this phishing scheme is targeting accounting and...
