With more people working from home than ever before, taxpayers may be wondering if they can claim a home office deduction when they file their 2020 tax return next year. The short answer is that self-employed taxpayers who use their home for...
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A recent Tax Court case outlined a situation we see quite often with our clients. In this case, the taxpayer was the sole shareholder of a professional association (taxed as a corporation) which performed medical services. He, himself was a...
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Is Having A Home Based Business Right For You? With more than 3 million home-based businesses now operating around the country, we are finding ourselves being approached more often than ever by clients considering the idea of walking away from...
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The IRS Has Its Eye On Executive Compensation A recent court decision demonstrates once again that the IRS is examining executive compensation with a critical eye and companies with potentially excessive comp packages had better be prepared to...
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The Tax Relief And Job Creation Act Passed on December 17, 2010 After much debate over whether to extend the Bush-era tax cuts for all taxpayers, congress finally passed and the president signed, the Tax Relief and Job Creation Act of 2010 (the...
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Small Business Jobs Act Passed in September 2010 In September, 2010, Congress passed and the President signed into law the 2010 Small Business Jobs Act (Act). The Act is intended to boost business spending and provide jobs by offering tax breaks...
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The American Recovery and Reinvestment Act of February, 2009 The American Recovery and Reinvestment Act of 2009 (Recovery Act) was signed into law on Feb. 17, 2009 and makes a number of beneficial changes for both individuals and businesses...
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The Emergency Economic Stabilization Act of 2008 After several months of declining stock markets and frozen credit markets, Congress acted quickly to pass the Emergency Economic Stabilization Act of 2008. In addition to the financial bailout...
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How Signing A Corporate Check Can Get A CFO Into Hot Water A CFO was ordered to pay $45,000 to a company that brought suit against him personally when the check he signed for his corporation did not clear the bank. This ruling is actually...
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