Part 3 – Does the network you are connecting to REALLY belong to who you think it does?!? Go to any hotel, and you are liable to see a wireless network that is named after the hotel. Before you connect, consider whether or not that network is REALLY the hotel network. It is trivial for [...]
In these tough economic times, many taxpayers and practitioners are having to deal with an issue they have seldom seen in the past – cancellation of debt. This article is intended to be a basic overview of the rules surrounding the more common cancellation of debt situations. In general, if you receive a Form 1099-C from a creditor, [...]
Part 2 – Who else is connected to that network? This concept applies to a wired network as much as it does to a wireless network, however I still think this needs to be mentioned. I’m sure that the other guests who happen to be staying at Caesar’s Palace during the annual BlackHat convention would [...]
Capital gain treatment for the sale of assets can be an extremely beneficial tax advantage for a taxpayer. Navigating the murky waters of capital assets can be difficult, however. The tax treatment of capital asset sales gains and losses differs between individuals and corporations. Individuals, proprietorships, and partnerships are taxed at a lower rate for [...]
The IRS has issued the 2012 optional standard mileage rates used for deducting the costs of operating an automobile for business, charitable, medical or moving purposes. They are: 55.5 cents per mile for business miles driven 23 cents per mile driven for medical or moving purposes 14 cents per mile driven in service of charitable [...]
We have compiled a checklist of actions based on current tax rules that may help you save tax dollars if you act before year-end. Not all actions will apply in your particular situation, but you will likely benefit from many of them. We can narrow down the specific actions that you can take once we [...]
We have compiled a checklist of actions based on current tax rules that may help you save tax dollars if you act before year-end. Not all actions will apply in your particular situation, but you will likely benefit from many of them. We can narrow down the specific actions that you can take once we [...]
Year-end tax planning is especially challenging this year because of uncertainty over whether Congress will enact sweeping tax reform that could have a major impact in 2012 and beyond. And even if there’s no major tax legislation in the immediate future, Congress next year still will have to grapple with a host of thorny issues, [...]
Use of wireless technology has grown exponentially in use in recent years as can be evidenced by performing a quick scan using your WiFi enabled smartphone from just about anywhere. More often than not you are in range of some wireless network. However, before you start surfing from that coffee shop’s WiFi network, you need [...]
Most S corporation shareholders would rather take a dividend distribution from their S corporations’ profits instead of compensation payments to avoid Social Security and Medicare taxes. To prevent this avoidance of payroll taxes, the IRS requires that S corporations pay a reasonable salary to its shareholders who perform substantial services. The Internal Revenue Service does [...]
