September 2017

Many clients ask me " do I have to keep a mileage log or some form of documentation to claim my auto or truck expenses"--My response and the tax courts response is always a resounding YES!! The Tax Court has this to say about the auto...

Most people gamble periodically. Rule 1- Your Winnings are taxable. Your income from gambling is taxable, and is reported to the IRS on Form W-2G. Rule 2- Keep records of your losses. You are allowed to offset your gambling winnings with your gambling losses-however, the IRS and...