Showing posts with label auto. Show all posts
Showing posts with label auto. Show all posts
Sunday, April 10, 2022

Losing Deductions By Not Filing A Tax Return

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I have become increasingly reluctant to accept a nonfiler as a client. That said, a partner somehow sneaks one or two a year into Command Ce...
Sunday, April 4, 2021

Income and Credit Card Rebates

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I am reading a case so unique that I doubt there is much takeaway taxwise, other than someone beat the IRS. What gets the story started is...
Sunday, March 4, 2018

Should I Have A Separate Bank Account For …?

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One of the accountants recently told me that a client had asked whether he/she should set-up a separate bank account for their business. ...
Sunday, February 11, 2018

Saying Goodbye To Employee Business Expenses

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Let’s talk about miscellaneous itemized deductions - likely for the last time. These are the deductions at the bottom of the form whe...
Friday, March 17, 2017

Out On A Limb

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I met a new client recently. He made me laugh. Not to his face, though. That would be rude. He was running me through a series ...
Wednesday, December 7, 2016

How To Lose All Of Your Auto Deduction

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I am not a fan of dumb. And I am reading big dumb. The IRS wanted over $22 thousand in taxes and $4,000 in penalties. There were  ...
Tuesday, June 21, 2011

Another Warning on Deducting Auto Expenses

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There is a very recent case concerning tax deductions for business use of a vehicle that I am considering as mandatory reading for many of o...