assoc
4:28 pm
by assoc | May 2, 2016 | Taxation
It often occurs in business that employees are allowed to use the employer’s vehicles in order to fulfill their job responsibilities. However, what happens if 100% of the vehicle use is NOT for business purposes? Is the employee required pay income tax on the...
assoc
4:26 pm
by assoc | Mar 26, 2016 | Taxation
I can’t resist the opportunity to discuss the topic of bitcoins. Bitcoin is unfamiliar and uncharted water to many people. The growing use of this virtual currency is definitely expanding. Consumers need to consider what bitcoins are and how they are accounted for...
assoc
4:25 pm
by assoc | Mar 3, 2016 | Taxation
What is a “Kiddie Tax”? Is a question our accounting firm often hears. Many parents seek to save income taxes by transferring assets from their names and placing those assets under their children’s names. Property can be transferred to minor children using custodial...
assoc
4:24 pm
by assoc | Feb 12, 2016 | Taxation
An interesting filing status tax circumstance may arise in any year when two married taxpayers are “not so happily married” and live apart during the year. Normally, married tax payers will choose to file their tax returns using a Married Filing Jointly...
assoc
4:22 pm
by assoc | Jan 28, 2016 | Taxation
As is the case in life, sometimes a divorce is the course of action chosen by couples. There are many tax issues that a couple should address in the divorce proceedings such as: Filing Status, Dependency Exemptions, Retirement Plan Distributions, Determining Tax...
