The Tax Professionals Blog
Misclassified as an Independent Contractor
It is not uncommon to encounter a client with 1099-MISC income from an employer that is treating him or her as an independent contractor when your client is actually an...
Read MoreTax Treatment of Emotional Distress Damages
A frequent question has to do with the taxation of damages awarded for emotional distress. Damages for physical injury or physical sickness are clearly tax-exempt and damages for emotional distress...
Read MoreFiling When Married to a Non-Resident Alien Spouse
Generally, a U.S. citizen or a U.S. resident who is married to a nonresident alien must file as Married Separate. However, a person who is a nonresident alien at the...
Read MoreSick Pay - Who Pays the Tax?
The taxability of sick pay depends upon whether the taxpayer paid the sick pay insurance premiums or the employer funded the sick pay.
Read MoreResident Apartment Manager Tax Issues
Landlords will often hire a resident manager to handle the day-to-day tasks of running an apartment building. In some locales, and depending upon the number of units in the apartment...
Read MoreAutomotive Manufacturers’ Sales Incentives
It is common practice for automotive manufacturers to provide incentive payments, including bonuses, prizes, or other awards, to individual sales persons. These can be made directly to the individual or...
Read More