by mariettacp | Aug 6, 2012 | Money Tips
Income Tax—Employee Business Expenses: The costs of commuting between a person’s residence and place of business are generally nondeductible personal expenses, regardless of the distances involved. In this case, taxpayer traveled to five temporary worksites...
by mariettacp | Aug 3, 2012 | Money Tips
Partnership Audit Results: According to the Fall 2011 Statistics of Income Bulletin, since 2000, the number of partnerships has increased at an average annual rate of 5.1%, with the majority of this growth coming from partnerships classified as Limited Liability...
by mariettacp | Aug 2, 2012 | Money Tips
There is a great benefit available to employees who would like to pursue an MBA or other graduate degree for the purpose of improving their abilities and performance at work. It’s possible that you can deduct the costs of going back to school to lower your tax bill....
by mariettacp | Aug 1, 2012 | Money Tips
Cattery’s Business Expenses: While taxpayer’s principal source of income came from her wholly-owned corporation’s information technology consulting business, she also operated a “cattery” through the corporation to breed, show, and sell...
by mariettacp | Jul 31, 2012 | Money Tips
There are many worthwhile reasons to lend money to a relative. For example, you may want to help a child or sibling continue their education or start their own business. But lending money to relatives can have tax consequences. The IRS requires that a minimum rate of...
