Tax Filing When the Government Is Shutdown

Tax Filing When The Government Is Shutdown by Susan Moussi

{2:14 minutes to read} IRS employees returned to work on January 28, 2019, after a lengthy government shutdown. As you can imagine, they will be trying to play catch up just as they enter their busiest time of the year. As a taxpayer, you may have concerns or questions about handling your tax returns should another shutdown occur before April 15, 2019. If another shutdown does occur, keep in mind that there will be delays to either 1. process a current return or 2. tend to past taxpayer matters that remain unsettled.

Continue reading

Beware of Identity Scams During Tax Season

Beware Of Identity Scams During Tax Season by Susan Moussi

{2:42 minutes to read} There are countless identity scams to obtain important personal information. Why and how? Scammers try to access your personal information for identity fraud or to get monies from you by threatening you with action if you don’t pay up.

Continue reading

Entertainment & Meal Deductions Under the Tax Cuts and Jobs Act of 2017

Entertainment & Meal Deductions Under the Tax Cuts and Jobs Act of 2017 by Susan Moussi

{2:50 minutes to read}  As a business owner, it’s likely that you meet with prospective clients away from your place of business. Perhaps these conversations happen over lunch or dinner; maybe it’s while enjoying a sporting event. Here’s what you need to know about meal and entertainment deductions.  

Continue reading

When a Tax-Free Employee Benefit Gets Taxed

When a Tax-Free Employee Benefit Gets Taxed by Susan Moussi

{2:28 minutes to read}  A recent court case illustrates the need to pay attention to your timing when taking advantage of tax-free benefits.

In Voigt, T. C. Summ. 2018 – 25, an employee was laid off from the university he worked at in 1991. As part of the severance package from the university, he or his dependents could receive a certain amount of tuition waivers that corresponded to his years of service. The waivers had several limitations in place, but apparently not one specific limitation that would keep the taxpayer from using the waivers in 2013 — 22 years after leaving the university. 

Continue reading