Problems With the 1099-K Form?

by | Jul 27, 2016 | Business Audits

Businesses have been receiving the 1099-K for credit card payments and 3rd party network transactions since 2013.  This form is used to report the gross amount of reportable transactions for a calendar year to the IRS.  If your business takes credit card payments, you...

Home Office Tax Deduction

by | Jul 26, 2016 | Business Deductions

Many small business owners and home workers express a bit of concern regarding the home office tax deduction, thinking that it will result in their tax return being flagged and audited.  There is no evidence of higher audit rates for home office deduction...

YOUR CHANCE TO ‘AUDIT’ THE IRS

by | Jul 14, 2016 | Uncategorized

You may now have a chance to have your complaints about the IRS heard by a self-styled watchdog group that is trying to independently audit the IRS with the help of taxpayers. The Tax Revolution Institute— a Washington, D.C.-based nonprofit that says it wants to...

CLAIMING SUMMER CAMP EXPENSES ON YOUR TAXES

by | Jul 11, 2016 | Uncategorized

Can you claim summer camp expenses for the dependent care credit?  In many cases, the answer is yes. If your child meets certain requirements, there is nothing in the tax code that says you have to find the least expensive day care in order to claim the dependent care...