May 1, 2017 | Individuals
Whether you filed your 2016 tax return by the April 18 deadline or you filed for an extension, you may be overwhelmed by the amount of documentation involved. While you need to hold on to all of your 2016 tax records for now, it’s a great time to take a look at your...
Apr 13, 2017 | Individuals
Because of a weekend and a Washington, D.C., holiday, the 2016 tax return filing deadline for individual taxpayers is Tuesday, April 18. The IRS considers a paper return that’s due April 18 to be timely filed if it’s postmarked by midnight. But dropping your return or...
Nov 10, 2016 | Small Business
Many companies start out, and get pretty far down the road, using the “per diem” approach when reimbursing employees for lodging, meals and incidental expenses. Doing so involves the use of either IRS tables or a simplified high-low method to reimburse workers up to...
Oct 10, 2016 | Small Business
If you have incomplete or missing records and get audited by the IRS, your business will likely lose out on valuable business deductions. Here are two recent U.S. Tax Court cases that help illustrate the rules for documenting your business expenses. Case 1:...
Jul 7, 2016 | Small Business
Many businesses host a company picnic for their employees in the summer. It’s a fun activity for your staff. But more importantly, you may be able to take a larger deduction for the cost than you would on other meal and entertainment expenses. Meal and entertainment...
