Listed property is a term for vehicles that are specifically listed out on Form 4562 when you file your tax return. ...
Tax returns have lots of things that you need to sign. There are signature pages for e-filing a tax return, there are different pages to sign if you are paper filing a return. Sometimes you need to sign tax elections, or tax engagement letters. There can be a lot of di...
Wondering if you can deduct your pet costs? People often treat their pets like children, but no matter how much money you spend on that pet the tax code doesn’t allow you to claim your pet as a dependent. In general the expenses for the family pet won’t be tax deduct...
A like-kind exchange is just that; an exchange of things that are similar. They can be very useful in deferring gains on depreciated property. The last post was about business vehicles, but there are many kinds of assets that can qualify for a like-kind exchange....
About this time of year (and for the next month or so), you might receive a corrected Form 1099 from your broker....
Many of the topics I blog about are tax deductions or credits or planning opportunities - good things. A deemed distribution is something to be avoided. It is definitely not a good thing. ...
Crowdfunding is becoming an increasingly popular way for businesses or individuals to raise money. The internet and sites like Kickstarter makes it possible now to collect $5 from 5,000 people in order to raise the $25k you need in order to make a short film or design a ne...
What should you do when you are waiting for a K-1 to file your return? If you are a business owner that has a K-1 that contains the majority of your income for the year, hopefully you have been doing tax plans so you have a pretty good idea of what that K-1 will contain....
It is that time of year again that so many people try to pretend isn’t here. They dread the paperwork, receipt gathering, reconciling, updating the accounting software and the unknown of “Am I going to owe a bunch of money for taxes?”...
Like a redheaded stepchild, the M1PR is a misunderstood and too-often neglected return. The whole thing is just weird and MN is the only state I know of that makes you file a separate return to get a property tax refund....
