Posts by zestsms
The Sharing Economy and your Taxes
Uber, Lyft, AirBnB, Etsy, Rover, TaskRabbit. If you’ve used any of these services–or provided services for them to others–you’re a member of the sharing economy. If you’ve only used these…
Read MoreScam Alerts: Hurricane Charities and Ransomware
While the IRS, state tax agencies and numerous people in the tax and accounting industry are working together to warn tax professionals and their clients about phishing scams, they are…
Read More2017 Income Tax Proposal
So, the budget wrangling is behind us for another 10 months anyway. One of the items left on the cutting room floor was a proposal to increase tax rates and…
Read MoreQualified Charitable Distributions – Donating Your Way to Lower Taxes
According to IRS statistics for 2014, almost 44,000,000 individual income tax returns were filed which included Schedule A, the form a taxpayer uses to itemizes their deductions. Of those returns,…
Read MoreWho Can Represent You Before the IRS?
Many people use a tax professional to prepare their taxes. Anyone who prepares, or assists in preparing, all or substantially all of a federal tax return for compensation is required…
Read MorePreparing an Effective Business Plan
Whether you’re starting a new company, seeking additional financing for an existing one or analyzing a new market, a business plan is a valuable tool. Think of it as your…
Read MoreUnderstanding the Gift Tax
If you gave money or property to someone as a gift, you may wonder about the federal gift tax. Many gifts are not subject to the gift tax. Here are…
Read MoreVirtual Currency Treated As Property for Tax Purposes
Many retailers and online businesses now accept virtual currency for sales transactions but the federal tax implications remain relatively unknown to many retailers. If you’re a retailer who accepts virtual…
Read MoreBusiness Entertainment Expenses
As a business owner, you are entitled to deduct certain expenses on your tax return such as those relating to entertaining clients. Entertainment is considered any activity that provides entertainment,…
Read MoreSummertime Checklist: Income Tax Withholding Review??
If you were to ask someone ‘What plans do you have for this summer?’, a few classic summertime activities you can expect to hear would be: the beach, amusement parks,…
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