The charts on this handout compare and contrast accounting and recordkeeping, fringe benefits, and liabilities of the various business entity types.
Read MoreThis handout provides a simple worksheet for business owners to track expenses. It can be used as a ledger or as a summary for business owners to complete and provide to their tax preparer.
Read MoreThis handout outlines the expenses that are deductible for the business use of the home. The use of the home as a day care facility is also highlighted.
Read MoreThis handout describes the filing requirements for Form 1099-MISC, Miscellaneous Income, including payments made to attorneys and penalties for failure to file correct returns or furnish correct payee statements.
Read MoreThe log provides a worksheet for taxpayers to track mileage and expenses for tax deductibility of those miles and expenses. The log provides the entries needed to be compliant with IRS regulations.
Read MoreThis worksheet provides a taxpayer with a means to track income and expenses for a rental property. The worksheet also provides a place to keep track of depreciation items.
Read MoreThis handout explains the circumstances under which an individual can claim a deduction for using their vehicle for business purposes.
Read MoreRecent legislation, such as the Families First Coronavirus Response Act and the Coronavirus, Aid, Relief, and Economic Security (CARES) Act has provided some financial and tax relief for certain taxpayers. The following is a summary of some of the provisions.
Read MoreThis handout gives a definition of what the alternative minimum tax (AMT) is and how it is applied. It also highlights some historical perspective on how the AMT has changed over the years.
Read MoreThis handout provides guidance for taxpayers who are undergoing an IRS audit. It includes an overview of how audits are conducted as well as a strategy for preparing for the audit.
Read MoreThis handout defines what it means to be insolvent. Cancellation of Debt - Insolvency It includes a worksheet for a taxpayer to determine if he or she is insolvent and it explains the tax implications of cancelled debt.
Read MoreThis handout defines what assets are considered capital assets. It also discusses holding periods of assets, basis, and capital gain tax rates.
Read MoreThis guide outlines the types of qualified charities which can receive tax deductible donations. It also discusses contributions of property including the donation of a vehicle.
Read MoreThis handout provides a fair market value guide for the donation of goods. There is also a tracker for taxpayers to record donations.
Read MoreThis handout provides guidance on how to report income and expenses for ministers. It also provides information on a parsonage or housing allowance received.
Read MoreThis handout explores the different aspects of crowdfunding, from the project initiator to the backer/contributor.
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