How to Protect Your Gambling Winnings from the IRS
Your gambling income is taxable. And—just as important—it’s reportable. The good news is that you can offset your gambling winnings with your gambling losses provided you keep good proof of…
Heavy Vehicle + Deductible Home Office = Major Tax Savings
Arguing with the IRS: You Need Tax Authority
Beat the Recapture Tax on Your Home Office
The depreciation you claim with your home-office deduction is subject to a recapture tax when you sell your home. But you may be able to avoid the recapture tax by…
Buy Your Employees (and Yourself) Flowers and Fruit, and Deduct the Cost
Private Debt Collectors Are Coming to a Doorstep Near You
Beating Penalties for Misclassifying W-2 Workers as 1099 Contractors
One potential business tax reduction strategy is to hire independent contractors instead of employees. If a worker’s classification fits within the tax law, it’s a legitimate strategy that can save…
WHAT’S MY TAX RATE?
WHEN SHOULD I FILE MY INCOME TAX RETURN?
WHAT TAXES MIGHT DISAPPEAR IF OBAMACARE IS REPEALED?
As congress tries to figure out if they are going to repeal and replace, tweek, twist, or run away from Obamacare we are left to contemplate an unknown future. Obamacare…
