Certified Public Accountant specializing in personal, non-profit and forensic accounting and tax preparation
The IRS has very different rules for deducting foreign business travel and for deducting domestic business travel. This month, we’ll focus on FOREIGN business travel, and will follow up next month with the rules for deducting DOMESTIC business travel. First, in order to deduct the full cost of transportation to a foreign country, at least…
Effective January 1, 2020, a new law went into place called the SECURE Act (signed on December 20th, 2019). The SECURE Act made many changes to our current retirement laws. Here are some highlights: Under old law, you could not make contributions to a Traditional IRA once you turned 70 ½. Under new law, you…
Everyone should have a proactive audit defense strategy. Whether you are a business or an individual, you can ensure you have the proper documentation for all of your financial arrangements and transactions. With the right documentation, your certified public accountant (CPA) will have the information necessary to defend you in the event the IRS decides…
It’s a common scenario: You neglected to issue a Form 1099 to your business’ contractors. As a result, you are now being audited. During the process, the IRS auditor tells you that you can no longer claim your deductions, because you failed to issue the Form 1099s. What should you do? Here are the answers…
