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The tax implications of a company car

The tax implications of a company car

August 28, 2019
Providing an auto for an owner’s or key employee’s business and personal use comes with complications and paperwork. Personal use will have to be tracked and valued under the fringe benefit tax rules and treated as income. This article only explains the basics.
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When the early bird commits the fraud, you need to catch it

When the early bird commits the fraud, you need to catch it

August 28, 2019
Early revenue recognition has long accounted for a substantial portion of financial statement fraud. By recording revenue early, a dishonest business seller or an employee under pressure to meet financial benchmarks can significantly distort profits.
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Why your phone may be a fraud risk

Why your phone may be a fraud risk

August 7, 2019
In only a decade, mobile phones have completely changed our daily lives. Unfortunately, fraud has kept pace with technology. To protect your personal information, you need to be aware of the constantly evolving threats.
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Take a closer look at home office deductions

Take a closer look at home office deductions

August 7, 2019
Be aware that claiming expenses on your tax return for a home office has long been a red flag for an IRS audit, since many people don’t qualify. But don’t be afraid to take a home office deduction if you’re entitled to it. You just need to pay close attention to the rules to ensure that you’re eligible — and make sure that your recordkeeping is complete.
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The tax implications of being a winner

The tax implications of being a winner

August 7, 2019
If you’re lucky enough to be a winner at gambling or the lottery, congratulations! After you celebrate, be ready to deal with the tax consequences of your good fortune.
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The “kiddie tax” hurts families more than ever

The “kiddie tax” hurts families more than ever

August 7, 2019
The TCJA doesn’t further expand who’s subject to the kiddie tax. But it has effectively increased the kiddie tax rate in many cases.
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Businesses can utilize the same information IRS auditors use to examine tax returns

Businesses can utilize the same information IRS auditors use to examine tax returns

August 7, 2019
The IRS uses Audit Techniques Guides (ATGs) to help IRS examiners get ready for audits. Your business can use the same guides to gain insight into what the IRS is looking for in terms of compliance with tax laws and regulations.
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You may have to pay tax on Social Security benefits

You may have to pay tax on Social Security benefits

July 10, 2019
If you’re getting close to retirement age, you may be wondering if your benefits are going to be taxed. And if so, how much will you have to pay? The answer depends on your other income.
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Merger & acquisition transactions: Avoid surprises from the IRS

Merger & acquisition transactions: Avoid surprises from the IRS

July 10, 2019
If you’re considering buying or selling a business — or you’re in the process of a merger or acquisition — it’s important that both parties report the transaction to the IRS in the same way.
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Seniors: Medicare premiums could lower your tax bill

Seniors: Medicare premiums could lower your tax bill

July 10, 2019
Americans who are 65 and older qualify for basic Medicare insurance, and they may need to pay additional premiums to get the level of coverage they desire. The premiums can be expensive, especially if you’re married and both you and your spouse are paying them. But one aspect of paying premiums might be positive: If you qualify, they may help lower your tax bill.
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Is an HSA right for you?

Is an HSA right for you?

June 24, 2019
To help defray health care costs, many people now contribute to, or are thinking about setting up, Health Savings Accounts (HSAs). With these accounts, individuals can pay for certain medical expenses on a tax advantaged basis.
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2019 Q3 tax calendar: Key deadlines for businesses and other employers

2019 Q3 tax calendar: Key deadlines for businesses and other employers

June 24, 2019
Here are some of the key tax-related deadlines affecting businesses and other employers during the third quarter of 2019.
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