by Leif Jensen | Nov 9, 2017 | General |
Due professional care is a combination of professional judgment and skepticism. The AICPA defines independence of mind as a state of mind that permits a member to perform services without being affected by influences that compromise professional judgment. To reach...
by Leif Jensen | Nov 8, 2017 | General |
We have all heard of the phrase “fake it till you make it”. Since I am one who gets to peer behind the curtain, I am still occasionally surprised by those who still fake it. One gentleman was recently bragging that since he was getting married he and his wife-to-be...
by Leif Jensen | Nov 7, 2017 | General |
The American opportunity tax credit is a credit for qualified education expenses paid for an eligible student for the first four years of higher education. You can get a maximum annual credit of $2,500 per eligible student. So in this court case the cost to become a...
by Leif Jensen | Nov 6, 2017 | General |
The IRS has three tests, for workers classification each made up of multiple factors. Behavioral Control covers facts that show if the business has a right to direct and control what work is accomplished and how the work is done, through instructions, training, or...
by Leif Jensen | Nov 1, 2017 | General |
Worker classification continues to remains a priority for the IRS. The Service continues to seek back taxes and issue penalties to firms that have wrongly treated actual employees as independent contractors. Unreported and underreported employment taxes continue to...
by Leif Jensen | Oct 31, 2017 | General |
Surprise the IRS is looking for filers who claim large charitable deductions. In the case of the big-game hunter, who found out after he took a $1.45 million write-off for animal hides, skulls, horns and other hunting specimens he donated to charity. His stance was...
