June 2014 - Philadelphia CPA
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June 2014

For business owners, entertaining clients is a time-honored tradition. However, you must be extremely careful, because it's a sensitive area with the IRS.Here's 5 ways to maximize your business meal and entertainment deductions.Get down to business. Any entertaining must be directly related to the active...

The Alternative Minimum Tax (AMT) is a tax on your deductions. Yes, you read that right.Its an additional tax that is calculated and added to the regular tax computed. The AMT stealth tax works by eliminating or reducing taxpayer's deductions that one gets with the...

The Kiddie Tax was created by lawmakers to prevent taxpayers from shifting income to their children to take advantage of the child's lower tax bracket. This tax can arise also without income shifting as well.Does your child have investment accounts that generate income? If so,...

A self directed IRA is an individual retirement account (IRA)--classified as a Roth, Traditional, SEP, Inherited , or SIMPLE. Self directed allows the custodian to invest these funds into any investment allowed...