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John StancilTax Professional Level: Master Tax Advisor
There are three safe harbors that will allow you to not make an estimated payment. 1) You owe less than $1,000; 2) You paid in an amount equal to the prior year's tax, or 3) You paid in 90% of this year's liability. Read More
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Alan SmithTax Professional Level: Tax Enthusiast
Yes, Colorado's reporting requirements law took effect July 1, 2017. From the July revision of General FYI 10 Consumer Use Tax: Purchases made over the internet Tangible personal property purchased over the... Read More
John StancilTax Professional Level: Master Tax Advisor
The corporation rightly followed it's policy of reimbursement under an accountable plan. However, the complicating factor here is that the taxpayer has previously accounted for business mileage use on this vehicle... Read More
Peter J. ScaliseTax Professional Level: Master Tax Advisor
Yes, most states currently offer Movie and Television Production Tax Incentives (hereinafter “MPIs”). MPIs are tax benefits offered on a state-by-state basis throughout the United States to entice, as... Read More
Peter J. ScaliseTax Professional Level: Master Tax Advisor
A properly designed and implemented Construction Tax Planning analysis will proactively identify additional tax savings related to new and / or planned construction projects. It should be duly noted that a... Read More
Todd StrumpferTax Professional Level: Tax Enthusiast
Yes, Cost Segregation works very well with leased space. We find that if the leaseholder spends roughly $200 K or more on leasehold improvements, Cost Segregation will provide a nice income tax benefit. We can... Read More
Daniel Farmer, EATax Professional Level: Tax Enthusiast
No. The IRS does not recommend any tax preparation website or software. Read More
John StancilTax Professional Level: Master Tax Advisor
No. The process begins with a letter to the taxpayer from the IRS, informing them that the account has been turned over to a private collection agent (PCA). The PCA will follow up with a letter of its own. In no... Read More
Kat Jennings CEO Tax Professional Level: Tax Enthusiast
Digital Nomads are individuals that leverage technology in order to work remotely and live an independent and nomadic lifestyle. There is a growing community of tax entrepreneurs traveling and working around the... Read More
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