This means that auditors aren’t always familiar with every nuance of the tax code and so occasionally get things wrong. For example, you may be keeping a 90-day mileage log, but your IRS auditor may disallow all of your auto…
If you use triple-net leases for your rental properties, you may wonder whether you’ll get your Section 199A deduction. We don’t have a clear answer for you, so we are going to go with “maybe.” As you’ll see, we need…
If you enjoy the occasional visit to the casino or plan on going any time in the future, this article will help you in knowing how to manage your taxes after a visit. If you have been fortunate enough to…
Tax reform made a lot of good changes in the tax law for the small-business owner. But the changes to the net operating loss (NOL) deduction rules are not in the good-changes category. They are designed to hurt you and…
The new 2018-19 FAFSA form has become available to apply on since Oct. 1st of this year. We have decided to make a checklist to help make sure you are on track to be eligible to apply for the new…
Sam OwensWe have a new addition to the Lothamer family in our office, Sam Owens, as our “New Client Coordinator.” Sam is an EA or “Enrolled Agent,” and got his certification in 2015 and worked in the tax industry since…
With each new year comes new changes to the tax brackets due to inflation and new bills passed by Congress. We made a table for these changes and here are the most important revisions we think you need to know!…
Payroll Taxes Delinquent Payroll Taxes Are Aggressively Pursued By The IRS & State Authorities and Put Many Companies Out of Business. Let Us Help Your Business. The IRS and State agencies take payroll tax debt very seriously: delinquent Employment Payroll…
As you likely know by now, your travel meals continue under tax reform as tax-deductible meals subject to the 50 percent cut. And tax reform did not change the rules that apply to your other travel expense deductions. One beauty…
If you operate what you think is a business, but that business loses money, it may not be a business at all under the tax code. Such a money-losing activity can look like a tax shelter to the IRS,…