Business Gift Tax Deduction

Business Gift Tax Deduction

Buying a gift for your client or customer can keep relationships strong! Not only can a client feel good about receiving a gift, but a business owner can also win if the gift falls under a certain requirement that will allow for a tax deduction! The Magic Number is...
Business Gift Tax Deduction

Reimbursement Plans

As a result of the changes made under the 2017 Tax Cuts and Jobs Act (TCJA), there have been some adjustments that may affect employee reimbursements. Tax treatment of employee’s reimbursed business expensed depends on type of reimbursement arrangement is in place....
What You Need to Know About Offers in Compromise

What You Need to Know About Offers in Compromise

An offer in compromise (OIC) is an agreement between the IRS and a taxpayer that settles the person’s tax debt for less than the full amount. Generally, OICs are reserved for taxpayers who are unable to pay their full tax liability any other way. If you can pay with...