Tax Warrior Chronicles

Tax Help Taking Care of Elderly Parents

Posted on Mon, May 01, 2017

By: Lauren O'Byrne, CPA

 

As average life expectancies rise, and more and more American couples both work outside of the home,  the costs related to the care for elderly parents is a significant factor in the family budget.  The Internal Revenue Code provides some tax relief…at least it does for now. Here are some benefits to consider.

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And the Winner Is: The IRS…Seriously

Posted on Mon, Feb 27, 2017

By: Eric R. Elmore

 

The closing moments of Sunday’s broadcast of the 89th Academy Awards brought more drama than the honored performances. It was a reminder we all make mistakes, like “forgetting” to report some “gifts” as income to Uncle Sam. The elaborate “gifts” given to Academy presenters and performers add up to tens of thousands of dollars, and when those gift baskets, boxes, and envelopes are opened, the IRS is always the real winner!

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IRS Rules Post-Retirement Payments Are Subject to Self-Employment Tax

Posted on Tue, Feb 21, 2017

By: Tiffany Diaz, CPA

 

In a perfect world, retirees would receive post-retirement payments from former employers tax-free. However, a recent IRS letter ruling puts a damper on that notion. In this short blog, we give an overview of the details and the only exception to the rule regarding post-retirement payments.

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The Taxation of the “Uber” Economy

Posted on Tue, Jan 24, 2017

By: Stephanie Otake, CPA

 

Making extra cash with Uber or Lyft has become a popular pastime, but make sure you consider the tax implications that come with it.  In this blog post, we’ll pose and answer common questions of those taking part in the so-called “sharing economy.”

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Independent Contractor or Employee?: Tax Implications for Employers

Posted on Wed, Mar 20, 2013

Taxpayers and businesses alike frequently find themselves in tax court over the question of whether a worker is an independent contractor or employee for federal income and employment tax purposes.  Jane Scaccetti, a D&S partner, in fact, recently tweeted about just such a case, in which a taxpayer lost his case. The question can be quite complex and the stakes can be very high. Let’s try to shed some light, in this brief blog, on some of the more obvious ways to determine on which side a worker may fall and what employers should do to comply with the law.

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