Non-taxable de minimus fringe benefits
In general, a de minimis benefit is one for which, considering its value and the frequency with which it is provided, is so small as
December 17, 2017 No Comments
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Use Online Tools for Tax Help
Get a tax transcript. You may need a tax transcript for a variety of reasons including if you apply for a loan or student financial
April 10, 2015 No Comments
IRS Semi-weekly and Next-Day Payroll Tax Deposit Requirements
If you have a tax liability of more than $50,000 in the look back period (2012Q3 + 2012Q4 + 2013Q1 + 2013Q2), the semi-weekly deposit
December 21, 2013 No Comments
IRS claims it can read your e-mail without a warrant
http://news.cnet.com/8301-13578_3-57578839-38/irs-claims-it-can-read-your-e-mail-without-a-warrant/
April 10, 2013 No Comments
Payments made with a credit card are not subject to reporting on Form 1099-MISC
An excerpt from IRS Form 1099-MISC instructions: Payments made with a credit card or payment card and certain other types of payments, including third party
January 25, 2013 No Comments
Questions and Answers for the Additional Medicare Tax
Questions and Answers for the Additional Medicare Tax: Source: http://www.irs.gov/Businesses/Small-Businesses-&-Self-Employed/Questions-and-Answers-for-the-Additional-Medicare-Tax The following questions and answers provide employers and payroll service providers information that will help them
January 13, 2013 No Comments
Per diem limitations for business owners and >10% shareholders
If all of the actual travel costs are being put on the company credit card, then there is no per diem to pay, the company
November 13, 2012 No Comments
C corp converted to S corp results in B.I.G. tax.
This excerp is from the executive summary of an article cited below. When a C corporation converts to an S corporation or an S corporation
November 2, 2012 No Comments
The basics of S corporation stock basis
This is a great article about the basics of S-Corporation shareholder stock basis. http://www.journalofaccountancy.com/issues/2012/jan/20114319.htm
October 5, 2012 No Comments
Tax Court: Itemized receipts required to substantiate deductions.
A recent court case (Gorokhovsky v. Commissioner, T.C. Memo. 2012-206) disallowed deductions because the taxpayer lacked itemized receipts necessary to substatiate deductions. Main Issue: Credit
September 6, 2012 No Comments
Partners are not employees and should not be issued a W-2
A partnership is the relationship existing between two or more persons who join to carry on a trade or business. Each person contributes money, property,
June 3, 2012 No Comments
IRS EFTPS Tax Payment Transmission Deadline
Payments must be scheduled at least one calendar day prior to the tax due date by 8:00 p.m. ET. Source: https://www.eftps.gov/eftps/direct/FAQGeneral.page
July 14, 2011 No Comments
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