Deducting your home office is usually a debated expense to take on your tax return. You may be reluctant to take this deduction because you did not keep good business records to claim the deduction. Recently, the IRS announced an optional safe harbor method for determining your home office deduction. If the safe harbor method is used, you are not required to keep records. Continue reading…
Pitfalls of Charitable Contribution Deduction Record Keeping
The charitable contribution deduction is one of the main deductions most individuals claim on his or her personal tax return. It is also a deduction some taxpayers and practitioners claim without supporting documentation. What are the proper record keeping rules for the charitable contribution deduction? Continue reading…
2014 and 2018 Tax Changes Due to Obamacare
In our previous blog, we reviewed the 2013 tax changes due to the Patient Protection and Affordable Care Act or in other words Obamacare. This blogs reviews the 2014 and 2018 tax changes. Continue reading…
2013 Tax Changes Due to Obamacare
We get quite a few questions and comments regarding the Patient Protection and Affordable Care Act or in other words Obamacare. This blogs reviews the 2013 tax changes.
Tax Question – Michigan Registration Renewal
Question: Where do I report the cost for renewing my tags with the State of Michigan? Continue reading…
Tax Help Question – Receiving 1099-R Late
Question: My taxes are still straightforward and I processed them online again just a couple days ago…all was good, until my previous employer finally just sent me my 1099-R in the mail in regards to the 401k contributions. Because I already submitted everything, this was not accounted for…is that going to be a problem? Or is there a way to add this?
Tax Preparer Due Diligence
Your tax return was selected for audit. The auditor reviewed your information and disallowed some of your deductions. As a result, you owe additional taxes including penalties and interest. How could this happen? You been using a trusted CPA for years to prepare your tax returns.
Tax Question – Levy Due to Student Loan
Question: I filed my taxes this year and the next thing I know they took my tax for a federal student loan with out any warning. I never revived any letter that they were going to take my taxes garnishment any wages or anything they just took it with out any notification. Is there any thing I can do about this or do they have the right to do this to me a signal parent of there boys on ssi and i was going to use that to put a roof over our head? Please give me any input that you can please.
Livingston Michigan Small Business & Technology Development Center
ALG Tax Solutions is recognized on Livingston Michigan Small Business & Technology Development Center (SBTDC) website. This is an example of the exciting twist and turns when running a small business.
How Long Can the IRS Make Adjustments to My Tax Return?
On 4/15 of every year, us tax practitioners are happy for two reasons. First, the tax season is basically over. But more importantly is the number two reason. Tax returns filed more than 3 years ago can generally be no longer changed by the IRS. Continue reading…