Tag: #taxseason

How to Deduct Medicare as a Business Expense

Premiums for Medicare health insurance can add up to a substantial sum. That’s especially true if-you have high income, and-you’re married and both you and your spouse are paying premiums. Fortunately, the premiums can potentially help your tax situation. The dollar benefit of Medicare tax deductions depends greatly on where you can deduct the premiums:-The
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Creating More Business Meal Tax Deductions After the TCJA

Here’s good news for business meals: the Tax Cuts and Jobs Act (TCJA) removed the “directly related and associated with” requirements from business meals. The net effect of this change is to subject business meals once again to the pre-1963 “ordinary and necessary” business expense rules. You are going to like these rules.  Restaurants and BarsQuestion 1. If,
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Fraud By Tax Preparer Creates Big Trouble for Client

Here’s a rule: Protect yourself. Do not engage dishonest tax preparers.  And here’s a story that I want you to hear.  The government indicted, tried, and convicted tax preparer Gregory D. Goosby of 30 fraud violations where he willfully aided and assisted in the preparation of false and fraudulent income tax returns.  Vincent Allen engaged
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Uncertain of a New TCJA Rule?

Aug 12, 2019 Tax by Kevin Noles
Do This to Avoid PenaltiesThanks to the Tax Cuts and Jobs Act (TCJA) tax reform, you have thousands of pages of new tax rules and not a lot of guidance on many of them.  Let’s say you want to take a certain tax-deduction position on your tax return, but you think it could go either
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