Bonnie Lee Archive
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.
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.
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.
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.
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.
Published February 08, 2013
How employers classify their employees can hold serious tax implications.
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.
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.
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.
Published January 25, 2013
Over the past several years, the IRS has increased its scrutiny of S Corporations in light of reasonable compensation.