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HI ALL. There will definitely be a big problem, If the owner that you are driving for now, and he finds out that your bad mouthing him, and the possibility of him going out of business due to not paying his driver., he has only 1 way to get even, and that is if he finds out who you are you...

Hi Bubblehead, I called the IRS and they really could not tell me anything in reference to it except, it is not considered a business vehicle, So that is where we are, I really cannot tell you what to do on this, that is your call, or your tax preparer. but if your audited for it. they...

Hi, Sorry for the delay in getting back to you, but I was out of town the week after you wrote this question about depreciation. Depreciation is taken from the day that you actually put it into service and used for your business. A cargo Van is allowed the standard mileage deduction for...

Renting Your Home or Vacation Home If youown a home in a vacation locale – whether it is your primary residence or avacation home – and are considering renting it out to others, there arecomplicated tax rules referred to as the “vacation home rental rules”that you need to be aware of...

Partnership, S-Corp and TrustExtensions End September 16 ArticleHighlights September 16 is the extended due date for partnership,S-corporation, and trust tax returns. Late-filing penalty for partnerships and S-corporations is $195 times the number of partners or shareholders during any part of...

Hi all, here is the New letter for September, Even if they do not pertain to you check them out anyway. Who Gets Your IRA The designated beneficiary listed on yourIRA account beneficiary form determines who gets your IRA. This is true even ifyour will or trust names different...

hi all, this has been an ongoing problem in this business, there are approximately 10 Owners that refuse to pay their drivers. We'll there is a way to take care of this problem, If you have Internet access, of which 99% of you do, Go to the IRS website, and find Form 3949-A...

I know that there are some Wal-marts that do not allow Tractor Trailer parking, but they do Allow RV parking, which really does not make sense, especially with a Straight Truck, its basically the same as an RV in Size and height. BUt "its got Commerical Plates, I think that's the...

Hi, Not all Wal-marts are the same, Most of them that are in shopping centers and do not stand by themselves, allow parking, if you own a Straight Truck it normally does not violate the parking regulations. Most of them say No Tractor Trailers, if that's the case, Park your Truck on the...

Hi, It would depend on what the letter says that you owe, or what they are requesting you to pay, Do Not pay until you sit down and talk with your tax preparation person to see why they disallowed certain items on your return and appeal the decision, it is not written in stone that you...

MANDATORY HEALTH INSURANCE WILL BEGIN ON JANUARY 1, 2014 Beginning in 2014 the Patient Protection & AffordableCare Act (the health care legislation sometimes known as Obama Care) will impose the new requirement that U.S. persons, with certain exceptions, have minimal, essential health care...

Hi, Continuation of Newsletter- 8. Basic Medicare Premium's increase to $104.90 per Month in 2013,but Part B & D premium's are much higher for upper income seniors if theremodified adjusted gross income for tax year 2011 exceeded $170,000. for coupleswho file a joint return or $85,000 for single...

Dear Clients and possible new clients We are making this newsletter available to you in time for the ExpoTomorrow and for the month of August. There are a number of New Tax Rules that you will have to be aware offor this tax filing season and beyond. 1. For those of you who are Company Drivers...

Documenting Charitable Contributions A frequently asked question is, “What records are required for charitable contributions?” In recent years, Congress has passed stringent record keeping rules for charitable contributions as well as harsh penalties for understating taxable income. The...

Hi All, Here is this months Newletter for your information Mid-Year Tax Planning Checklist All too often, taxpayers wait until after the close of the tax year to worry about their taxes, missing opportunities that could reduce their tax liability orhelp them...

Sorry all, I only missed 1 and that was in 2005 when I had my Anurisim (Sorry for the spelling) But due to ATT which did not help in Feb, that I did not have a phone until march 18, and I lost a lot of business and the Capital is not there to attend this year., Hope to see you all next year,

Newletter (continued) Tips for Students and Parents Paying College Expenses Whether you’re a recent high school graduate going to college for thefirst time or a returning student, paying for college can be a dauntingfinancial task. The following are some tips about education tax benefits...

Dear Valued Client, In this edition of our newsletter, we are covering some important information if you hold a foreign financial account, helpful record-keeping tips and much more. If you see something that you want to talk about, feel free to contact us to explore the possibilities. Please...

Hi All, I am sorry to say that I will not be a Vendor this year at the Expo, This is due to conflicting commitments this year with important tax seminars that I would have to attend that week, this one ends on Friday, and is out of State and there is no way that I will able to be available...

Actually No, there are no stats, you have to remember that IRS audits are Ramdom, and not specific, most audits will be for certain items MILEAGE, AND ACTUAL EXPENSES, THIS IS A BIG AUDIT RED Flag, you cannot take both, If you are a Cargo Van Driver, it depends upon what office...