Business Tax Deductions: Deduct Your Travel Expenses

tax deductible business travel expensesSometimes, travel is necessary in order to improve your business. The good news is that the IRS allows you to deduct many of the expenses that come with your business-related travel.

You do need to be careful, though. Make sure that your expenses are truly related to business, and that […]

Tax Deductions Dentists Should Not Miss

tax benefits for dentistsRunning a dental practice takes a lot of time and effort, but it also takes money. Fortunately, there are tax benefits for dentists that help to offset these costs.

The IRS offers several tax benefits for dentists, some of which are typical business deductions and others that […]

IRS Launches Worker Misclassfication Amnesty Program

IRS worker missclassification programThe Internal Revenue Service (IRS) has launched a program called the Voluntary Classification Settlement Program (VCSP) or amnesty which enables employers to reclassify certain workers from independent contractors to employees going forward without being liable for all federal employment tax liabilities that would be due for misclassifying workers in the […]

Tax Provisions Summary of the American Jobs Act of 2011

tax provisions summary for american jobs act 2011President Obama revealed an overview of the American Jobs Act of 2011 (AJA) in a speech to both chambers of congress last week. This week, the legislative proposal was released.

This proposal is roughly 155 pages, with a 41-page section-by-section analysis at the end.

The tax provisions and/or […]

Barter Tax Implications: How to Report Bartering Transactions to IRS

Bartering is the oldest form of commerce, dating back to long before the development of money in its current form.

With the high rate of both unemployment and underemployment, people are forced to get creative in order to obtain the goods and services that they used to be able to pay for in a more traditional manner. Bartering is an excellent way to continue receiving the […]