Cincinnati Tax Guy

Steve Hamilton is a Tampa native and a graduate of the University of South Florida and the University of Missouri. He now lives in northern Kentucky. A career CPA, Steve has extensive experience involving all aspects of tax practice, including sophisticated income tax planning and handling of tax controversy matters for closely-held businesses and high-income individuals.

Showing posts with label car. Show all posts
Showing posts with label car. Show all posts
Monday, December 30, 2024

The IRS Goes Rounds With Cohan

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  The decision begins with the IRS seeking taxes of $805,149, $1,145,104, $1,161,864, and $831,771 for years 2013 through 2016. The penaltie...
Saturday, April 17, 2021

Racing As A Trade Or Business

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  I am reading a case that made me grimace. The following is a total NO-NO if you are unfortunate enough to be selected for audit: As part...
Sunday, September 24, 2017

A CPA Goes Into Personal Audit

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Folks, if you wind up before the Tax Court, please do not say the following: … petitioner testified that allocating some of the expenses ...
Saturday, April 29, 2017

When Is A Car Not A Car?

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I had a conversation today with someone who wanted to understand the “tax side” of a series of transactions. More specifically, transaction...
Monday, November 12, 2012

IRS Small Business Audit Areas

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The IRS has announced selected business areas it is prioritizing for audit this upcoming fiscal year. The IRS is increasingly focused on sm...
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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...
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