The IRS will begin accepting all Individual tax returns on January 29th. Approximately 155 million individual tax returns will be filed this year. The tax deadline is April 17th. The deadline is Tuesday, April 17, 2018, rather than the traditional…

Businesses have less than 30 days to file Forms 1099-Misc with the IRS and recipients. The due date is Wednesday, January 31st. Penalties for late or not filing are $520 per recipient. Not all payments to vendors are reportable to the…

Commentary about the new tax laws is fast and furious. We would give you quick answers about the computation of the new business deduction, a possible change in tax status, and other unintended effects if this information were available. As…

Taking a customer or business colleague to lunch or dinner before or after a business meeting is what the IRS calls an “associated-with” meal because the meal occurs before or after the business meeting. The IRS says the meal must have a “clear…

Taking a customer or business colleague to lunch or dinner and conducting a business meeting is what the IRS calls a “directly related” meal because the meal and business meeting take place at the same time. The IRS says the…

(4 minute read) Written by: David A. Paddock, CPA, M. TAX. Have you ever considered moving to Nevada to escape California’s high income tax? Gilbert Hyatt not only considered it—he did it! In the early 1990’s, Gilbert Hyatt invented a…