News & Insights Articles

VEHICLE EXPENSES FOR THE SELF EMPLOYED: ACTUAL VS. STANDARD MILEAGE RATE

Many taxpayers operate their businesses as sole proprietorships (aka self-employment). When a taxpayer is self-employed, income is reportable on the individual’s tax return (Form 1040), and the taxpayer is responsible for paying all taxes on this income. To properly tax only the adjusted gross income, the IRS allows taxpayers to deduct business expenses from their gross self-employment income….

Your Rights as a Taxpayer

Whether you currently owe taxes or expect to owe taxes in the future, you should know that you have guaranteed rights as a taxpayer when the Internal Revenue Service (IRS) begins the collection process against you. The Taxpayer’s Bill of Rights is specified in IRS...

CARES Act

In response to the global COVID-19 pandemic that has ravaged our country in 2020, Congress passed the Coronavirus Aid, Relief, and Economic Security (CARES) Act established the Coronavirus Relief Fund (Fund) and appropriated $150 billion to the Fund. As part of the...

IRS “Dirty Dozen” Scams to Look Out for in 2020

The IRS has posted a list of “dirty dozen” scams for 2020 that you, the taxpayer, need to be wary of. You can search the IRS article by going to www.irs.gov/newsroom/dirty-dozen. The article is listed under IR-2020-160. Below, we have chosen a handful of categories...

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