Taxability of Social Security Benefits.
Docket No. 13970-19 December 6, 2021 US Tax Court petitioner resided in Colorado and filed her petition with the court in order to issue a decision in regards to the…
2022 Tax Due dates
The IRS will send Letter 6419 (information letters) to taxpayers in 2022 with the total amount of advance CTC they received. To claim the third recovery/stimulus credit (if you have not received it), you’ll…
Business Deductions Home Office Deduction Investment IRS Letter Meals and Entertainment Deduction mileage travel expenses
Disallowing Deductions.
expenses requires corroborative evidence with a high degree of probative value to support such a reconstruction to show a high level of credibility.
Renewing ITIN
Source: https://www.irs.gov/individuals/itin-expiration-faqs You can renew your ITIN if it has expired when you file your tax return. You must send a completed Form W-7, Application for IRS Individual Taxpayer Identification…
When a husband says, “We are partners,” what does he REALLY mean?
According to the United States Tax Court opinion (Docket No. 10417-18), on December 9th, 2021, a married (later divorced) couple got in trouble with their taxes. The wife asserted an…
Have you complied with the IRS notices?
According to T.C. Memo. 2021-141 Docket No. 20438-19L. Filed December 28, 2021, a taxpayer filed a Tax Court petition to review an IRS determination letter regarding a levy. The taxpayer…
Did the taxpayer pay more than he owed?
On December 28th, 2021 the US Tax Court reviewed and decided whether “the taxpayerhas paid more than he owed, where such a determination is necessary for acorrect and complete determination…
Section 199A -Qualified Business Income Deduction
Section 199A -Qualified Business Income Deduction What businesses are eligible: available to individuals with Qualified Business Income C-Corporations and pass-through entities are not eligible. Qualified Business Income may be generated by Sole…
S-Corp Reasonable Compensation ins and out
S-Corp Reasonable Compensation ins and out There is a lot of misconception on how to pay yourself that Reasonable Compensation when your company is an S-Corp. There is a big struggle to…
Tax Saving Strategy
HSA as a Tax Savings Strategy. Tax Saving Strategy I’m sure you have heard of HSA as a tax savings strategy. Now, let’s talk more about it, in case, you…
