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Posted By NSA Admin 9/15/2015 5:26:52 PM
Found In Community: Main Street Practitioner Blog Blogs
Committee considers making some of these provisions permanent . A markup is planned in the Ways <em>and</em> Means Committee this week to make permanent several temporary tax provisions, including: bonus depreciation; the subpart F exemption for active financing <em>income</em>; CFC look-through rules; ...
Posted By NSA Admin 3/24/2015 3:02:27 PM
Found In Community: Life and Taxes Blogs
deduct unreimbursed expenses that are ordinary <em>and</em> necessary to your work as an employee. An ordinary <em>expense</em> is one that is common <em>and</em> accepted in your industry. A necessary <em>expense</em> is one that is appropriate <em>and</em> helpful to your business. ...
Posted By NSA Admin 3/10/2015 9:30:31 AM
Found In Community: Main Street Practitioner Blog Blogs
Tips from the IRS Many people who carry on a trade or business are self-employed. Sole proprietors <em>and</em> independent contractors are two examples of self-employment. If this applies to you, there are a few basic things you should know about how your <em>income</em> affects your ...
Posted By NSA Admin 1/22/2015 12:40:40 PM
Found In Community: Main Street Practitioner Blog Blogs
, which allows you to deduct the cost of certain types of property on your <em>income</em> tax return as an <em>expense</em>. Uncertainty over the ultimate fate of enhanced Code Sec. 179 <em>expensing</em> <em>and</em> bonus depreciation impacts 2014 year-end planning, particularly as business owners ...
Posted By Julene Joy 6/15/2015 11:18:13 AM
Found In Community: Life and Taxes Blogs
. You may qualify for it whether you pay for care at home, at a daycare facility or at a day camp. 6. Credit Amount . The credit is worth between 20 <em>and</em> 35 percent of your allowable expenses. The percentage depends on the amount of your <em>income</em>. 7. <em>Expense</em> Limits. ...
Posted By National Society of Accountants 1/27/2017 11:20:08 AM
Found In Community: Main Street Practitioner Blog Blogs
A biennial survey conducted by the National Society of Accountants (NSA) reported detailed data about business practices, client fees, <em>and</em> spending for tax <em>and</em> accounting professionals. The 2016-17 NSA <em>Income</em> <em>and</em> Fees of Accountants <em>and</em> Tax Preparers in ...
Posted By NSA Admin 11/25/2015 9:49:08 AM
Found In Community: Life and Taxes Blogs
Year-End Tax Tips for Businesses The end of the year gives you <em>and</em> your business a great chance to maximize tax savings for 2015 <em>and</em> beyond. There are several general strategies to consider, such as use of traditional timing techniques for <em>income</em> <em>and</em> deductions ...
Posted By NSA Admin 11/30/2015 12:48:07 PM
Found In Community: Life and Taxes Blogs
post-secondary institutions of learning, subject to <em>income</em> phase-outs. Classroom <em>expense</em> deduction . Primary <em>and</em> secondary education professionals may take an above-the-line deduction for qualified unreimbursed expenses up to $250 paid during the year. Stay tuned to ...
Posted By NSA Admin 12/16/2015 9:36:29 AM
Found In Community: Main Street Practitioner Blog Blogs
provisions include the following sections: Section 124. Extension <em>and</em> modification of increased <em>expensing</em> limitations <em>and</em> treatment of certain real property as section 179 property. The provision permanently extends the small business <em>expensing</em> limitation ...
Posted By NSA Admin 3/10/2016 11:35:16 AM
Found In Community: Life and Taxes Blogs
. This rule prevents you from claiming both tax benefits for the same <em>expense</em>. 9. <em>Income</em> Limits. The credit <em>and</em> exclusion are subject to <em>income</em> limitations. The limits may reduce or eliminate the amount you can claim depending on the amount of your <em>income</em>. ...
Posted By Claire Berlin 11/12/2014 12:54:06 PM
Found In Community: Life and Taxes Blogs
documentation of any changes to your address <em>and</em> phone number. Employment <em>and</em> <em>income</em> forms <em>and</em> data, such as W-2s, K-1s <em>and</em> 1099 Rs; W2-Gs, 1099-MISCs, 1099-Gs, 1099-SSAs, 1099-INTs, 1099-DIVs, <em>and</em> 1099-Bs; Employer Identification ...
Posted By Amy Simpson 7/20/2015 10:34:22 AM
Found In Community: Life and Taxes Blogs
Tips from the IRS Millions of people enjoy hobbies. They can also be a source of <em>income</em>. Some of these types of hobbies include stamp or coin collecting, craft making <em>and</em> horse breeding. You must report any <em>income</em> you get from a hobby on your tax return. How you report ...
Posted By NSA Admin 3/10/2015 11:07:28 AM
Found In Community: Life and Taxes Blogs
student or for the same <em>expense</em>, in the same year. The credits are subject to <em>income</em> limits that could reduce the amount you can claim on your return. Visit IRS.gov <em>and</em> use the Interactive Tax Assistant tool to see if you’re eligible to claim these credits. Also ...
Posted By NSA Admin 12/23/2015 10:07:35 AM
Found In Community: Main Street Practitioner Blog Blogs
number of items that may be of direct interest to NSA members. These provisions include the following sections: Extension <em>and</em> modification of increased <em>expensing</em> limitations <em>and</em> treatment of certain real property as section 179 property. The provision permanently ...
Posted By NSA Admin 1/22/2015 12:33:15 PM
Found In Community: Main Street Practitioner Blog Blogs
refundable. Even if the tax-exempt small employer has no taxable <em>income</em>, it may be eligible to receive the credit as a refund so long as it does not exceed its <em>income</em> tax withholding <em>and</em> Medicare tax liability. More information More information about the Small Business ...
Posted By National Society of Accountants 11/3/2017 2:41:07 PM
Found In Community: Main Street Practitioner Blog Blogs
five years. Interest Deduction - For businesses with average gross receipts above $25 million, the deduction for net interest <em>expense</em> in excess of 30 percent of adjusted taxable <em>income</em> would be disallowed. Certain regulated public utilities <em>and</em> other specific ...
Posted By Claire Berlin 11/12/2014 4:07:16 PM
Found In Community: Life and Taxes Blogs
. Documents You May Need Personal data such as Social Security numbers <em>and</em> dates of birth for yourself, spouse, <em>and</em> dependents; a child-care provider’s tax ID or Social Security number; <em>and</em> any changes to address, job title, phone number, etc. ...
Posted By Julene Joy 11/24/2014 3:16:04 PM
Found In Community: Main Street Practitioner Blog Blogs
May Need Personal data such as Social Security numbers <em>and</em> dates of birth for yourself, spouse, <em>and</em> dependents; a child-care provider’s tax ID or Social Security number; <em>and</em> any changes to address, job title, phone number, etc. Employment <em>and</em> ...
Posted By Amy Simpson 7/1/2015 10:42:41 AM
Found In Community: Main Street Practitioner Blog Blogs
Statutory Fringe Benefit Exclusions Dividend <em>Income</em> – Dividend Reinvestment Plans Prepaid Rental <em>Income</em> <em>and</em> Deposits Reporting Rental <em>Income</em> – Vacation Rental Homes Social Security <em>Income</em> – Basic Computation Passive Activities ...
Posted By Alfred Giovetti 9/7/2011 11:14:19 AM
Found In Contact: Alfred Giovetti's Blog
limit. A Simple IRA for age 50 <em>and</em> over has a $14,000 limit. <em>Income</em> up to $245,000 can be considered for employer matching contributions. This area tends to be complex, so consult with someone knowledgeable in this area to develop a good plan. Paying your spouse will also shift ...
Posted By Cherie Hennig 9/20/2016 3:25:15 PM
Found In Contact: Cherie Hennig's Blog
740 requires a company to reconcile its: Reported <em>income</em> tax provision attributable to continuing operations with Amount of <em>income</em> tax <em>expense</em> that would result from applying its U.S. statutory tax rate to its pretax net <em>income</em> or loss from continuing operations. ...
Posted By Amy Simpson 7/9/2015 8:41:32 AM
Found In Community: Life and Taxes Blogs
<em>income</em> <em>and</em> rental expenses on Schedule E , Supplemental <em>Income</em> <em>and</em> Loss. Your rental <em>income</em> may also be subject to Net Investment <em>Income</em> Tax . Used as a Home. If the property is “used as a home,” your rental <em>expense</em> ...
Posted By NSA Admin 5/4/2015 11:49:34 AM
Found In Community: Main Street Practitioner Blog Blogs
Prep Part 2A: Businesses I The first of two webinars devoted to studying for Part 2 - Businesses of the Enrolled Agents Exam. This webinar will review ten topics that are often tested on Enrolled Agents Exam Part 2, including business <em>income</em> <em>and</em> <em>expense</em> topics applicable to ...
Posted By John Ams 11/21/2016 1:33:10 PM
Found In Community: Main Street Practitioner Blog Blogs
proposes a 20 percent corporate tax rate <em>and</em> a 25 percent business tax rate for <em>income</em> earned through passthroughs or a sole proprietorship, Angus noted. The Blueprint also provides for immediate <em>and</em> full <em>expensing</em> of investments in tangible <em>and</em> intangible ...
Posted By NSA Admin 5/5/2016 4:17:51 PM
Found In Community: Main Street Practitioner Blog Blogs
two webinars devoted to Part 2 - Businesses of the Enrolled Agents Exam. This webinar will review ten topics that are often tested on Enrolled Agents Exam Part 2, including business <em>income</em> <em>and</em> <em>expense</em> topics applicable to all businesses, sales or exchanges of business properties, ...