by Pierre Philantrope | Sep 21, 2022 | Tax Tip
Do you have a property that you rent out? If the average period of rental is less than 30 days, you likely have a choice. You would either: claim the income and expenses on Schedule C, orclaim the income and expenses on Schedule E. When Is Schedule C a Good Choice? If...
by Pierre Philantrope | Sep 14, 2022 | Tax Tip
Many taxpayers have either entered into an agreement with the Internal Revenue Service to pay their tax debts or completely ignore them. In some cases, they have failed to honor the agreement or have completely disregarded IRS notices for payments because of certain...
by Pierre Philantrope | Sep 7, 2022 | Tax Tip
The home office deduction does not only apply to self-employed individuals (Schedule C). The tax benefit of the home-office deduction is deducted differently for the owners of an S Corporation operating at home. The home-office deduction is available to the S...
by Pierre Philantrope | Aug 31, 2022 | Tax Tip
A taxpayer may receive a substantial amount of money in a lawsuit. There are certain tax consequences of which you should be aware. The money you receive may be taxable and, in many cases, the attorney fees that you pay relating to the lawsuit may not be deductible...
by Pierre Philantrope | Aug 24, 2022 | Tax Tip
It is common practice for taxpayers with IRS tax problems to face the IRS by themselves. Sometimes they hire a professional like an enrolled agent, a CPA, an attorney, but not someone who specializes in tax resolution. We are certain that you would not hire...
by Pierre Philantrope | Aug 17, 2022 | Tax Tip
Facing an Internal Revenue Service audit could be very draining for a taxpayers in many ways. However, you do not have to endure the pain because there is help available. Taxpayers are encouraged to seek the service of a tax professional to assist them with their tax...
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