October 12, 2015
Andrew Presti
Blog Posts
0 CommentsOctober 2015 tax compliance calendar As an individual or business, it is your responsibility to be aware of and to meet your tax filing/reporting deadlines. This calendar summarizes important tax reporting and filing data for individuals, businesses and other taxpayers for the month of October 2015. October 2 Employers. Semi-weekly depositors must deposit employment taxes […]
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October 12, 2015Wayne NaegeleBlog Posts0 CommentsTax whistleblowers continue to find a friend in Tax Court In two recent cases, whistleblowers have had success before the Tax Court. In one case, Tax Court granted motions to compel production of documents filed by three whistleblowers—individuals who informed the government about a tax evasion scheme-whose reward claims the IRS had denied. In another […]
Read moreOctober 12, 2015Wayne NaegeleBlog Posts0 CommentsHow do I? Deduct foreign business travel with sightseeing included Foreign travel expenses may be subject to allocation if the taxpayer engages in personal activities while traveling on business. A portion of the foreign travel expenses may be nondeductible if the individual engages in substantial nonbusiness activity. The allocation rules apply where the individual engages […]
Read moreOctober 12, 2015Wayne NaegeleBlog Posts0 CommentsCongress returns and takes up some tax bills After a five week recess, lawmakers returned to work in September and took up several tax bills. While some tax bills moved out of committee, their ultimate passage by both the House and Senate before year-end is unclear. Congress has only a finite number of days in […]
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October 12, 2015Salvatore RussoBlog Posts0 CommentsFAQ: Can a taxpayer assign income to someone else? Gross income is taxed to the person who earns it by performing services, or who owns the property that generates the income. Under the assignment of income doctrine, a taxpayer cannot avoid tax liability by assigning a right to income to someone else. The doctrine is […]
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October 12, 2015Steve GrgasBlog Posts0 CommentsThe approach of year-end 2015 makes it tax planning season. Tax law developments in 2015 can affect, for example, the deduction of costs and expenses, the treatment of contributions to tax-favored accounts, and the inclusion of certain benefits in income. Traditional year-end planning techniques for investments and retirement are also important. Small businesses also have […]
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