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Hi Fastman1, you said $170 a year is that for the tax return or the accounting. Or are you making up the items from your receipts and putting them on a spreadsheet in the proper catergories. and he is transcripting them into the return, Franklln Katz, ATP, PA, PB Frank’s Tax and Business...

For the transportation industry, the Hotel is not part of the Per Deim, it is considered Travel and is taken separately on line 24 A Per Deim is on line 24B depending on your software Frank

hi xmudman, I was in the midde of answerng your questions, i was with a cleint in reference to the Health care, i just finished and posted it Frank

The per deim of $59.00 per day is a deduction as a reimbursement for meals only and the actual deduction is 80% of that, which is $47.20 per day. for all days away from home. If your doing your own taxes, make sure you you check the box on line 24 on your SCH C entrance page, that states...

Hi Tknight it does not matter weather you pay yourself or not the per diem is yours to take Franklln Katz, ATP,PA, PB Frank’s Tax and Business Service 315 E. King St. Kings Mountain, NC28086-3151 (704) 739-4039 Fax: (704) 739-3934 e-mail: [email protected] Web Site...

Sorry All, I did not check on the validity of this post, it is my fault, of which normally I do, but i missed this one. and i will now check on all e-mails regarding tax information. But got buzy with a Health care cleint and came back to the post when i was finished. If you checke on how...

yes i do, its basic, or you can use a Steno Pad, orany type of Spread sheet on your computer. for proof. I used the left side for the DatePU , Time &Shipper/Date Deliver -Time, Reciever, Right side For Mileage, and when I left to pick-up i put the start mileage on top and every time i...

Hi All, A. Effective January 1, 2015, PER DEIM REMAINS AT $59.00 SUBJECT TO 80% for days logged, or for van drivers, either bill of ladings, trip pads or individual sheets showing each load B. Cargo Van Owners and Drivers who are contracted to Owners May use the Standard Mileage Rate...

HI All. Here is a reminder for those who forgot or for many that didn't know... Here is what happened on January 1, 2015: Top Medicare tax went from 1.45% to 2.35% Top Income tax bracket went from 35% to 39.6% Top Income payroll tax went from 37.4% to 52.2%...

Afternoon All, This post by Mailer is what Obamacare is about, and all taxpayers are subject it. #1 If you do not have Health Insurance Coverage of any sort, you will have the Shared Responsibility of paying a Penalty with a minimun of $95.00 per person, or 1% of your ADJUSTED GROSS INCOME...

HI ALL, Effective November 21, 2014, If you still have not filed your 2013 Income Tax Return, The IRS has Closed all Electronic Filing until sometime in Mid-to the End of January. If your are also filing tax year 2011tax returns, it can no longer be e-filed. Only 2012 and 2013 All other...

Basically, if you have a company Name, A satellite, and the DOT # on your Van you are subject to DOT Regs., even though you do not log. The do not enforce it, but you are. If they really want they can enforce he DOT Regs. theY feel that you did not abide by rules of the road. I you travel...

HI All! Today is the last day if you filed for an Extension to complete your 2013 Income Tax Returns. IF you are mailing them in, they must be postmarked by midnight tonight, October 15, 2014 in order for them to be considered "TIMELY FILED" by the IRS. and also any tax owed must me paid...

Hi, this is from how Turbotax does it: The DOT per diem rate applies to each full 24-hour period you're away from home; for partial days where you're either leaving for work or coming home, use 75% of that rate (this would be $44.25 for inside the continental U.S., $48.75 outside). The IRS...

There should be a box that you have to mark on the Sch C. fine where it is subject to DOT Reg. or you will not get the correct deduction The Per Diem is taken on line 24 Meals & entertainment you enter the total and it calculates if your using tax software. but i cannot guarantee the out...

Sorry but no, there has not been a Per Diem Change in 3 years Its still $59.00 per day subject to 80% Frank

HI All, Here are some tax increases than will in effect your tax returns for this coming tax filing season starting in January 2015 for 2014 taxes. Subject: DO YOU KNOW WHAT HAPPENED TO YOU 7-1-14 Here is what happened on July 1st, 2014: Top Income Tax bracket went from 35% to 39.6%...

Hi All, A miss spelling, OBAMA "CARE" NOT CAR sORRY FOR THAT, BUT ITS A GREAT JOKE RIGHT!!!!!!!!!!!!!! FRANK

If you looking for answers in reference to the Affordable Care act and what your ta preparers are going to ask you. go to Affordable Care Act (ACA) Tax Provisions Don't forget to make sure you read between the lines as to what it will cost you if you do not have health insurance. Don't forget...

HI ALL DOT REGULATIONS STATE THAT "YOU ARE NOT ALLOWED HAVE ANY TYPE OF ALCOHOLIC BEVERAGE IN YOUR VEHICLE AT ANYTIME!!!!!!!!!!!!! I have a team as clients that were on there way home from a load, and were pulled over at the either Truckee, or Fairfield, California Scales and the DOT did an...