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Tax Free Tips For The Piano Man?

Tax Free Tips For The Piano Man?

President Trump’s campaign promise of tax-free tips was partly fulfilled in the One Big Beautiful Bill.  Rather than an exclusion from all taxes, there is an-above-the line income tax deduction limited to $25,000 for qualified reported tips.  There was language...
Section 183 Hobby Losses Live Video Conference

Section 183 Hobby Losses Live Video Conference

$99.00 This is a 2-hour live video conference (2 CPE credits) led by Peter J. Reilly, CPA., who has been a tax practitioner for over 44 years, has read and analyzed over 700 cases on hobby losses. Zoom Live Video Conference: Nov. 14th, 1-3pm ET   Because one of our...
As IRS Withers Tax Pros Still Urge Compliance

As IRS Withers Tax Pros Still Urge Compliance

Last month I reflected on the implications of the very low probability of tax returns being audited.  My career started in 1979, and I remember the IRS being much more formidable.  Of course, the memories of old people are notoriously unreliable, but I had data to...
Tax-Smart Moves Every Small Business Owner Should Make

Tax-Smart Moves Every Small Business Owner Should Make

Image from Pexels Guest post by Rita Harris – socialworklife.org Managing taxes doesn’t start in April, but rather, it starts with your daily decisions. For small business owners, every operational choice echoes into the way your taxes shake out. From how you manage...