Nothing is For Free With the IRS

Those goody bags Oscar presenters receive aren’t tax free gifts anymore.

“The gift basket industry has exploded, and it’s important that the groups running these events keep in mind the tax consequences,” said IRS Commissioner Mark W. Everson in announcing the tax agency and film indust…

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U.S. Federal Income Tax Self Employment & Paying Self Employment Tax

As a regular employee of a company, you are required by the Internal Revenue Service to have withheld from you earnings FICA (Federal Insurance Contributions Act) and Medicare taxes. FICA is also known as the Social Security tax. You pay these taxes into the government and they are used for retir…

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Cost Segregation Gives Apartment Owners Tax Relief

Apartment owners can face staggering expenses to maintain apartment communities. The upkeep of even a modest community could involve groundskeeping, unit renovation, and replacements, such as parking lot asphalt and fencing. Another steep expense is federal income tax - and in some areas an addit…

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