Category Archives: Business advisory

IRS rolls out a safe harbor home office deduction

The IRS has issue Revenue Procedure 2013-13, which introduces a new safe harbor home office deduction for those taxpayers who otherwise qualify for the deduction.  The prescribed deduction $5.00 per square foot, up to 300 square feet (thus, an optional … Continue reading

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When to hire a tax professional

Fox Business has a timely article today about when to hire a tax professional that I thought was worth passing along. A couple of thoughts I’d pass along: * I’ll echo the sentiment that you should choose someone who’s both … Continue reading

Posted in Business advisory, Capital investment, Financial planning, Retirement planning, Taxes | Leave a comment

W2 / 1099 deadline looms: changes of note

Forms W2, 1099-MISC, and other information returns are required to be distributed to payees by January 31, 2012 (reports are due to tax agencies later, with varying due dates depending on whether paper or electronic media are used for reporting). … Continue reading

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New Year Resolution – Documenting Business Expenses

As we turn the page on another year, it’s a good time to start fresh with properly documenting certain business expenses. The areas where we most commonly see deficiencies are meals and entertainment and business use of vehicles. Below is … Continue reading

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