Past Vehicle Trade-ins? Cash in!
In the past (before 2018), when you traded vehicles, you pushed your old business basis to the replacement vehicle under…
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Latest News and Articles
Placing Your Children on Your Payroll
If you have a child under the age of 18 and you operate your business as a Schedule C sole…
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Bar Owners Failed to Report Pay to Kitchen Employees
For more than four years, they paid dishwashers cash and did not report income paid to the IRS. Two Pennsylvania…
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Increase Mortgage Deductions by Staying Single
Two single persons can deduct more mortgage interest than a couple that is married. If you own a home with…
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Target Helps Target the Scammers
Two Los Angeles women, Ailing Lu and Ji Hyun Lee, both age 25, were arrested and facing criminal charges as…
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Former Fitness Guru Finds Out the IRS Knows How to Stay Fit and Lien
“Sweating to the Oldies” workout legend Richard Simmons has remained reclusive in his home for the past 5 years and…
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Credit Union CEO Ends Up with No Credit
Edward Rostohar, CEO of the CBS Employee Credit Union, was sentenced to 14 years in prison for embezzling 40 million…
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Businessman Evaded IRS Assessments, Leading to 1.5 Million Loss
He told his company’s bookkeeper to stop issuing checks, have company pay personal expenses. A Pennsylvania businessman pleaded guilty in…
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Stop Assuming That You Are Taking Too Many Deductions
If your business deductions exceed your business income, you have a tax loss for the year. With a few…
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