by Pierre Philantrope | Oct 16, 2024 | Tax Tip
Receiving a letter or notice from the Internal Revenue Service (IRS) could be very stressful. The IRS has ramped up tax collection enforcement due to the recent funding allocated to hiring more employees to collect tax due. Further, collection activities that were...
by Pierre Philantrope | Oct 9, 2024 | Tax Tip
Many married couples frequently ask the question: Should we file our tax jointly or separately? The answer: It depends. Taxpayers financial circumstances could be very different. There are many factors to consider to determine the filing status that could be more...
by Pierre Philantrope | Oct 2, 2024 | Tax Tip
Does your business classify workers as independent contractors instead of employees? You should know that the U.S. Department of Labor is trying to make it harder for all businesses to use independent contractors. The Department of Labor enforces the Fair Labor...
by Pierre Philantrope | Sep 18, 2024 | Tax Tip
Your decision to start a business should start with tax planning. You need to meet with a tax professional to discuss your decision to start a business, to purchase a business, or to purchase a franchise. This should be the most important step. As a potential business...
by Pierre Philantrope | Sep 11, 2024 | Tax Tip
In Eason v. Commissioner, T.C. Summary 2024-17, the Tax Court held that the Internal Revenue Service properly disallowed deductions resulting from expenses taxpayers claimed in connection with a real estate business because by the close of the year at issue the...
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