Claiming tax deductions for expenses related to business travel is fairly conventional, as long as you follow the rules. However, do not expect to write off personal expenses during a business trip. If you are self-employed, there are opportunities to combine business and vacation and save on taxes. As you know, you can write...
Read more →The IRS has revoked the tax-exempt status of approximately 275,000 organizations and is making a list of the groups public. Publication of the list serves as notice to donors that they can no longer make tax deductible contributions to the organizations. The IRS announced that approximately 275,000 organizations have automatically lost their tax-exempt status...
Read more →Despite all the chatter about how the Great Recession is finally over, many small-business owners aren’t feeling it yet. With reduced resources to hire and train staff, pay outside contractors and also increase productivity, many small-business owners are turning to technology to help them bridge the gap between what they need and what they...
Read more →In response to rising gasoline prices, the IRS has raised the standard mileage rate for business use of an automobile from 51 cents per mile to 55½ per mile, effective July 1 (Announcement 2011-40). The medical and moving standard mileage rate is increasing to 23½ per mile, also on July 1. The new...
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