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I try to add tax blog articles weekly on tax topics that may be interesting to you. Please browse. If there is a topic you would like to see here or would like to more information on, please contact me.

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My Tax Blog

January 30, 2019   |   0
Why File Taxes Early?

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To avoid tax related identity theft Most identity thieves file “phony” returns early so that the IRS receives the phony forms before the “real” taxpayers have time to file. After a tax return is electronically filed, any other individual electronically filed return for the same tax year and same social security number is rejected. So … Why File Taxes Early?

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January 24, 2019   |   0
Qualified Business Income Deduction

man with coffee talking to a woman in a business suit outside building

Are you: Self Employed? Receive Limited Liability Company (LLC) Income? Receive a 1099 Miscellaneous? Member of a LLC (e. g. Partnership)? Receive Sub Chapter S Corporation Distributions? If you answered no to the above questions then QBI does not apply to you. . . If you answered yes, then: The Qualified Business Income (“QBI”) deduction … Qualified Business Income Deduction

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October 23, 2018   |   0
Business Barter Can Bite!

Tools on a sawdust strewn table

Barter is trading services or product in lieu of cash. Barter of products or services between businesses  (e.g. subcontractors) is taxable. Barter income is based on the value of services or product received (of IRC Section 61(a)). It is reported on the tax return (IRC§ 61(a)(1)).  Mr. Welemin learned this painful lesson in US Tax … Business Barter Can Bite!

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October 2, 2018   |   0
Track that Mileage Expense!

Car dashboard with mileage odometer

Reminder, track those auto expenses. Every little bit adds up. There are two ways to calculate auto expenses: actual expense and mileage. Actual expense method includes auto maintenance cost, (oil changes, tire rotations etc), minor repairs (tires, windshield wipers, etc), auto insurance, personal property taxes, garage rent, gas, oil, fluids, depreciation, tolls, vehicle registration (tags) … Track that Mileage Expense!

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October 1, 2018   |   0
What is an Enrolled Agent?

McCLish Tax & Bookkeeping sign with business name and telephone number

In the Alphabet soup of certificates, education and licensure–CPA, EA, JD, M Tax, MBA, ATA– it can be hard to keep it all straight when trying to find a knowledgeable tax professional. Recently  someone asked me, “I’ve seen the letters ‘EA”, what does it mean?   How is it relevant to my situation?” The letters “EA” … What is an Enrolled Agent?

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