by Leif Jensen | Mar 20, 2017 | General |
The Dirty Dozen represents the worst of the worst tax scams. Compiled annually, the “Dirty Dozen” lists a variety of common scams that taxpayers may encounter anytime but many of these schemes peak during filing season as people prepare their returns or hire someone...
by Leif Jensen | Mar 15, 2017 | General |
College students across the United States continue to be targeted in a common employment scam. Scammers advertise phony job opportunities on college employment websites, and/or students receive e-mails on their school accounts recruiting them for fictitious positions....
by Leif Jensen | Mar 14, 2017 | General |
In a recent court case, it was confirmed that legal fees paid in a job-related lawsuit are not deductible business expenses. After a bank executive was fired, the bank filed suit against her to recover a bonus it had paid her earlier in the year. She then...
by Leif Jensen | Mar 13, 2017 | General |
According to the Tax Court, a 100% penalty for failing to collect or pay payroll taxes isn’t deductible. Federal penalties are never deductible. After an S corporation did not pay its employment taxes and later went out of business and had its corporate...
by Leif Jensen | Mar 8, 2017 | General |
I am currently working with a couple who both lost parents last year. The differences between the couple’s two parents are striking. For the first one the family knows where all of the assets are and the documents are current. But there are special...
by Leif Jensen | Mar 7, 2017 | General |
The simplest way to help protect yourself from tax-related identity theft this tax season is to file your tax return early. Thieves who are using stolen identities to seek refunds on fraudulent returns typically file the fake returns early in the filing season...
