Normally, a taxpayer may qualify for home office deductions when he or she uses a separate room or clearly divisible space strictly for business purposes. But what if your place is so small that you can’t avoid at least some…
Part I: How to Turn Strategy into Action The mere mention of strategy often evokes images of long discussions, debates over the semantics of a mission statement and whether or not you’ll be able to enact your vision. Yet the…
IRS Warns of Impending FBAR Deadline June 30th Daszkal Bolton would like to remind clients to submit reports of any foreign bank accounts to the IRS on or before the June 30, 2012 deadline for Form TD F 90-22.1. If…
Big News About BioTech Tax Credits Congress Has Re-Authorized The SBIR & STTR Programs Through 2017 With The 2012 Defense Authorization Act Daszkal Bolton would like to help you stay informed about the federal government’s current efforts to expand funding…
When is a Taxpayer Not a Real Estate Professional? Passive Activity Loss Limitation Rules Prevail! -or- The Story of the Barber Who Cut Too Much Hair! The Tax Court recently ruled that although a taxpayer participated in rental activities within…
The legal battles over health-care legislation began minutes after Obama signed it into law. Dozens of lawsuits nationwide challenged it. The Supreme Court agreed to hear a suit brought by Florida and 25 other states, as well as a challenge…
To Shred or Not to Shred? Daszkal Bolton’s Guidelines for Keeping Business Records. After every tax season, clients get the urge to do some “spring cleaning” of their business records. It feels good to purge some of the financial records…
Construction Contractors – Are You Using the Best Reporting Method? While over time you will end up with the same total income, your method of accounting will determine in which year you report. If you are a construction contractor, you…
Understanding the Rules Regarding MLR Rebates Daszkal Bolton’s professional team has received many questions regarding the Medical Loss Ratio standards and rebates, and what it means to employers. We have outlined a few simple facts to help you better understand…
An IRS audit is never welcome, but there are steps which small and medium-sized businesses can take if served with an audit notice to make the process a bit easier and less stressful. Knowing how to respond is half the…