Tax Tips & More
5 Rules for Turning Your Vacation into Tax-Deductible Business Travel
Here’s an idea: how about transforming your next vacation into business travel? With careful planning, your transportation to any destination could be fully deductible.
Create Tax-Free Fringe Benefit Deductions for Your Smartphone
I hope you can benefit from this fringe benefit opportunity related to business smartphones.
Tax Rules for Providing Free Meals and/or Lodging to Employees
If you’re wondering about tax-free treatment for employer-provided meals and lodging, you may find the following overview helpful.
Deducting a Loss from an Airbnb Bedroom Rental
When you rent a bedroom in your home and that rental unit creates a tax loss, can you deduct the loss? Yes, if you meet the four technical requirements.
No Mercy for You When Your CPA Does Not File Your Tax Return
What’s your worst tax nightmare? Identity theft? Not having enough money to pay all the taxes you owe? How about this: your CPA, enrolled agent, or other tax preparer has not filed your taxes for three years.
How Long Does the IRS Have to Audit Your Returns?
Nobody wants to spend their whole life looking over their shoulder, wondering if the IRS will audit them. Luckily, there is a statute of limitations on IRS audits and tax assessments.
November 2024 Tax Due Dates
November 12: Tips for October 2024 reported to employer
December 2024 Tax Due Dates
December 10: Tips for November 2024 Reported to Employer (Form 4070)
December 31: Contribution to employer-sponsored retirement plan for 2024 (401(k), 403(b), 457 or federal thrift savings plans)
December 31: Required minimum distribution (RMD) by individuals who are 74 or older at the end of 2024
January 2025 Tax Due Dates
January 10: Tips for December 2024 reported to employer
January 16: Estimated tax payment for 4th quarter of 2024
January 16: Farmers and fishermen pay estimated tax for 2024
January 31: Deadline to file and pay 2024 taxes in full if not making an estimated tax payment in January