Blog Archives

Home Office Deductions

The home office deduction is a great benefit for home-based businesses.  In 2013, more than 3.4 million taxpayers claimed deductions for the business use of a home. In order to claim the deduction, the IRS requires that the home office

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Corresponding with the IRS

Whenever writing the IRS, always make several copies of whatever you send.  If the IRS misplaces your first correspondence, you can send it again – and again, if necessary.

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IRS Documentation

Avoid giving original documents to the IRS.

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Tax Code

“The (tax) code has grown more complex by the year, as evidenced by the fact that Congress has made more than 5,900 changes to the code – an average of more than one a day – just since 2001.” –National

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2017 Retirement Plan Contributions

The government can make regular changes in regards to how much you can contribute to your retirement accounts, but for 2017, everything will remain almost identical to 2016. Here are the limits related to 2017 retirement plan contributions: You can

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2017 Standard Mileage Rates

The Internal Revenue Service has issued the 2017 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes. Beginning on January 1, 2017, the standard mileage rates for the

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2016 Tax Form Changes – Part 2

The IRS has released a number of draft tax forms and instructions for the 2016 tax year. The previous post, Part 1, looked at the Form 1040 itself.  This post, Part 2, covers related draft forms and schedules. –Form 1040—Schedule

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IRS Changes W-2 1099 Filing Deadlines

Beginning with forms for tax year 2016, the filing deadline for all federal W-2s is January 31 whether filing paper or electronic returns. Until now, employers had two dates to keep in mind when remitting W-2’s: -January 31, to provide

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Charitable Donations

As tax season approaches, taxpayers who give money or goods to a charity by Dec. 31, 2016 may be able to claim a deduction on their 2016 federal income tax return and reduce their taxes. Only donations to eligible organizations

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2016 Tax Form Changes – Part 1

The IRS has released on its website a number of draft tax forms and instructions for the 2016 tax year. Here are some key changes made on the 2016 Form 1040 return: *Due date. Form 1040’s due date is April

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