Fox Business - The Power to Prosper
Search Site

Bonnie Lee Archive

Get updates from Bonnie Lee

http://www.foxbusiness.com/archive/author/bonnie-lee/feed/rss

  • How to Correctly Write Off Depreciation

    Published March 01, 2013

    Depreciation is a business expense applicable to the purchase of capital assets, but it can get a little tricky for owners to work out without getting in trouble with Uncle Sam.

  • Sorting Fact from Fiction on Taxing Tips

    Published February 28, 2013

    There are quite a few misconceptions about how the IRS views tip income. It’s time to set the record straight.

  • Cheat Sheet on Statute of Limitations

    Published February 22, 2013

    There is a statute of limitations for various tax scenarios--here's what filers need to know about how long the taxman can come after them.

  • Defining Taxable and Nontaxable Income, Part 2

    Published February 21, 2013

    Tax law is so convoluted and filled with exceptions that it becomes more and more difficult every year to keep up. If you get an odd piece of income – something other than your W2 wages or a retirement distribution and you find you need to clarify the tax implications, here are some tips.

  • Do You Qualify for the Earned Income Tax Credit?

    Published February 14, 2013

    The Earned Income Tax Credit is a refundable tax break that is designed to help low-income workers make ends meet. But because of fraud, the IRS has strict requirements on who is eligible to take the credit.

  • Misclassify a Worker on Your Taxes? IRS Offers Help

    Published February 08, 2013

    How employers classify their employees can hold serious tax implications.

  • Tips for Filing Your Tax Return For Free

    Published February 07, 2013

    The IRS has made it very easy to prepare and electronically file your own income tax return--here's what to look out for. 

  • ObamaCare Taxes in 2013: How to Prepare

    Published February 01, 2013

    Here’s a list of new health-care issues and medical tax law changes every small business owner needs to know.

  • What’s New on Form 1040 in 2012

    Published January 31, 2013

    After Congress averted the fiscal cliff at the very last hour at the start of the year, the folks at the IRS had the big job of redesigning some tax forms to comply with the newly-passed measures. Here is what to expect on the IRS new 2012 Form 1040.

  • Is Your Compensation Reasonable?

    Published January 25, 2013

    Over the past several years, the IRS has increased its scrutiny of S Corporations in light of reasonable compensation.