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...
by Leif Jensen | Oct 30, 2017 | General |
The airlines have been implementing lower and lower fares; they can be good for consumers. But to recoup those monies, we all need to beware of unexpected fees they are imposing when we travel on a basic economy fare. These new bare-bones fare, recently rolled out by...
by Leif Jensen | Oct 25, 2017 | General |
An individual found a tax preparer who promised him a refund of approximately $20,000 and charged him 20% of the refund amount as a fee. Probably up front as well. The preparer attached a fraudulent Schedule C to the return, which showed a $54,000 loss, even though...
