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The items included in our blog, Accounting News, formerly Marso's Tax Notes, are informational only and are not meant as tax advice. Please consult with your tax advisor to determine how any item applies to your situation.

Jan
10
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Category: Mileage Rates

The IRS has released the standard mileage rates for 2013 (IR-2012-95) 56.5 cents per mile for business miles driven 24 cents per mile driven for medical or moving purposes 14 …
The IRS has released the standard mileage rates for 2013 http://jrmcpa.biz/accounting-news/2012/11/2013-standard-mileage-rates/


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BY GREG, ON NOVEMBER 27TH, 2012 Like many other enterprises, your business may pay club dues to one or several types of organizations. These dues may or may not be deductible,…
Like many other enterprises, your business may pay club dues to one or several types of organizations. These dues may or may not be deductible, depending on the type of organization and its purpose. http://jrmcpa.biz/accounting-news/2012/11/can-you-deduct-your-club-dues/


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BY GREG, ON NOVEMBER 21ST, 2012 As year-end approaches, many corporations could benefit from the following “last minute” tax-saving moves, including adjustments to income to p…
As year-end approaches, many corporations could benefit from the following “last minute” tax-saving moves, including adjustments to income to preserve favorable estimated tax rules for 2013, deferral of certain advance payments to next year, and fine-tuni… http://jrmcpa.biz/accounting-news/2012/11/last-minute-year-end-tax-saving-moves-corporations/


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BY GREG, ON NOVEMBER 19TH, 2012 In an Announcement and accompanying news release, as part of the relief provided to victims of Hurricane Sandy, IRS has eased the rules for 401…
In an Announcement and accompanying news release, as part of the relief provided to victims of Hurricane Sandy, IRS has eased the rules for 401(k) and similar employer-sponsored retirement plans to make loans and hardship distributions to storm victims an… http://jrmcpa.biz/accounting-news/2012/11/irs-eases-rules-retirement-plan-loans-and-hardship-distribut/


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BY GREG, ON NOVEMBER 18TH, 2012 When you maintain a office in your home, you may be entitled to a special tax break on your commuting costs. For most people, the cost of daily…
When you maintain a office in your home, you may be entitled to a special tax break on your commuting costs. For most people, the cost of daily travel between home and a regular work location is a nondeductible commuting expense. http://jrmcpa.biz/accounting-news/2012/11/commuting-expenses-taxpayers-office-home/


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BY GREG, ON NOVEMBER 12TH, 2012 The Tax Court has held that two S corporation owners who entered into a Custom Adjustable Rate Debt Structure (CARDS) transaction in 2000 weren…
The Tax Court has held that two S corporation owners who entered into a Custom Adjustable Rate Debt Structure (CARDS) transaction in 2000 weren’t entitled to deduct losses and costs associated with the transaction because it lacked economic substance. http://jrmcpa.biz/accounting-news/2012/11/cards-transaction-denied-having-economic-economic-substance/


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BY GREG, ON NOVEMBER 9TH, 2012 One of the negative aspects of buying a new car is the annoyance involved with getting rid of your old car. Many individuals find the trade-in a…
One of the negative aspects of buying a new car is the annoyance involved with getting rid of your old car. Many individuals find the trade-in allowance offered by dealers (if any) to be well below the car’s true value. But the alternative of selling the … http://jrmcpa.biz/accounting-news/2012/11/donating-used-car-charity/


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