by Pierre Philantrope | Feb 1, 2023 | Tax Tip
The earned income tax credit (EITC) is not for every taxpayer. As your income increases, the credit is reduced and it is phased out at an income level. Taxpayers should be more alert by looking for any schedule A and schedule C on their tax return if they are not...
by Pierre Philantrope | Jan 18, 2023 | Tax Tip
The IRS (IR-2023-05) announced on Thursday, January 12 that 2023 tax filing season will officially start on Monday 23, 2023. Tax returns could be very complicated for taxpayers. Regardless of the level of complication, all taxpayers could benefit by partially...
by Pierre Philantrope | Aug 10, 2022 | Tax Tip
In Pediatric Impressions Home Health, Inc. v. Commissioner (T.C. Memo. 2022-35), the Tax Court held, on April 12, 2022, that a corporation engaged in the business of providing at-home private duty nursing services to children with special needs misclassified...
by Pierre Philantrope | Jul 13, 2022 | Tax Tip
There is much to learn for the new business owner from Gregg M. Kellett’s court experience (Gregg M. Kellett, T.C. Memo. 2022-62). In 2013, while working for the Bloomberg Industry Group, Kellett purchased the vizala.com domain name and formed Vizala, LLC of which he...
by Pierre Philantrope | Jul 6, 2022 | Tax Tip
Cryptocurrency such as bitcoin is all the rage these days. Crypto is not legal money. It is property, similar to gold. Like gold, its use can result in taxable income. The IRS is concerned that you and millions of Americans are using crypto without paying tax on the...
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