Disabled Individuals May Be Missing Out On The Earned Income Tax Credit
There are several requirements to qualify for the Earned Income Tax Credit (EITC) (IRC Sec 32), one of which is to have earned income. M...
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The Tax Professionals Blog · 446 articles
Deducting Travel Insurance on Your Taxes
The deductible travel expenses, for a business trip, would include the cost of travel insurance, visa fees, customs fees, and books abou...
Read moreC or S Corporation and the 3.8% NIIT
One of the factors to consider in regards to deciding to do business as a C Corporation or utilize the Sub S election (where there are 1...
Read moreReporting Hobby Income and Expenses
When an activity is determined to be a hobby and not a for profit business activity, special reporting rules apply.
Read moreWhen Is a Charitable Contribution Appraisal Required?
Frequently taxpayers make multiple charitable contributions during the year and if the total of those contributions exceeds $5,000, is a ...
Read moreTax Treatment of Below Market ( Gift ) Loans
Occasionally when preparing tax returns, we encounter situations where there are loans between family members, or occasionally between e...
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