Dan the CPA Blog
Mar 8, 2016
If your income is above a certain threshold, you’ll need to pay the Additional Medicare Tax of 0.9% on income above the threshold amount. The IRS recently reminded taxpayers of what they need to know about this tax. Which income is subject to the tax? The tax applies... read more
Mar 1, 2016
If you’re thinking about getting more energy-efficient with your home to cut your energy costs long-term, there’s another reason you might want to go ahead and move forward: tax savings. The IRS reminds taxpayers that there are two credits you can take advantage of.... read more
Feb 29, 2016
In the past, if you needed to refresh your retail store or restaurant, you faced a complicated task of figuring out which costs needed to be capitalized and which were able to be deducted. A new safe harbor reported by The Tax Adviser is changing that. IRS is allowing... read more
Feb 18, 2016
Traditional once-a-year performance reviews don’t cut it with Millennials, according to new research reported in an article in Business News Daily. The findings show that Millennials are open to feedback and take improvement goals seriously — but waiting an entire... read more
Feb 15, 2016
In 2015, the IRS launched an initiative with the tax industry to put increased safeguards in place to prevent identity theft and protect taxpayers’ data from thieves. You can check out Fact Sheet 2015-23 to see the details of all that the initiative includes. But the... read more
Feb 11, 2016
Earlier this week, the IRS announced that they discovered and stopped an automated cyberattack on the e-filing personal identification number (PIN) system last month. In this attack, cyber thieves used information stolen “outside the IRS” to generate e-file PINs for... read more
Feb 9, 2016
The IRS recently announced that it’s raising the deductible amount for purchases of tangible property without applicable financial statements (AFSs) to $2,500 per item. It used to be that any item over $500 without an AFS had to be capitalized. (For taxpayers with... read more
Feb 3, 2016
If an organization wants to qualify as a charity, it has to be exclusively dedicated to charitable activities and must comply with all the requirements of Sec. 501(c)(3). The U.S. Tax Court issued a judgment in December on a case dealing with an organization called... read more
Jan 29, 2016
Servers at popular low-priced restaurants like Waffle House work just as hard as those as those at 5-star establishments. But they get paid much less. This past May, one patron at a Raleigh, North Carolina Waffle House decided he was going to give an especially... read more
Jan 25, 2016
In a statement reported on by WYFF4, the South Carolina Department of Revenue said that they’ll be delaying refunds for the majority of filers until March 1. As scammers continue to steal identities and file false tax returns in order to get their victims’ refunds,... read more