Since I teach so many tax seminars across the country, I am forced to read a lot of tax court cases. I am astounded at how many times a taxpayer loses in tax court for the same reason….lack of documentation. Simple as that. Lack of documentation. When it comes to business expenses you MUST have…
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New Tax Law……Ouch! Ouch! Ouch! As many of you already know, I have been out teaching the new tax law for a few months now. It is a real piece of work! There are winners and losers. It is complex enough that I am unable to categorize who wins and who loses. There are too…
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The Treasury Inspector General for Tax Administration (TIGTA) is warning taxpayers to beware of phone calls from individuals who claim to represent the Internal Revenue Service, but in reality are trying to defraud them, in what it is saying is the largest ever scam it has seen to date. “This is the largest scam of…
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Did you know that you can defer gain on the sale of real estate (and some other assets as well) if you do a “like-kind exchange”? The rules are a bit complex….way too much to go over here in any kind of detail. However, let me run you through how it can work so you…
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