Blog - Philadelphia CPA
1118
page-template,page-template-blog-large-image,page-template-blog-large-image-php,page,page-id-1118,ajax_fade,page_not_loaded,,qode_grid_1300,footer_responsive_adv,qode-content-sidebar-responsive,qode-child-theme-ver-,wpb-js-composer js-comp-ver-5.1.1,vc_responsive
 

Blog

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...

You can be rewarded with huge tax savings with heavy vehicle and home-office deduction combo.The heave vehicle produces quick deductions. A home office that qualifies as a principal office eliminates commuting miles, thus enhancing the business-use percentage of the vehicle(s).Here's a potential scenario. You purchase...

The IRS is using 4 private collection agencies to collect inactive tax receivables.If you nor the IRS has taken any recent actions to resolve your tax debts, the IRS may assign your case to one of these agencies.Once your case is assigned, you MUST work...

Limited liability companies (LLCs) provide liability protection for all owners (members), regardless of their managerial functions; and multi-member LLCs qualify for favorable partnership-tax rules.This benefit can be lost or curtailed if you do not have an operating agreement document in your company records.LLCs are created...

I can assist your small business in a number of significant ways, including:educate you to employ every legal tax deduction be in 100% compliance with the tax code avoid potential events that might trigger a tax audit reduce you taxes legally, morally, and ethicallyMy name is Mark Fineberg,...

There are generally tax strategies that can work for you and your business, if you understand the tax code.The Health Savings Account is a powerful part of a health care strategy because:saves you $$$ through lower taxes grows tax-free gives you a chance to take control of...