Monthly Archives: November 2009

Buddha Buddy

While working in my home office, I look forward to a visit from Buddha Buddy, a friendly squirrel with half a tail who hops up towards our back door everyday, usually in mid afternoon, but often in the morning as … Continue reading

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Controller and Genghis Khan: Failure of Accounting Systems at Small Companies
by William Brighenti, CPA

If you’re the controller or chief accountant at a small company, chances are that your boss is a Genghis Kahn. Herein is a depiction of a not uncommon situation facing a controller at a small company today as well as … Continue reading

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Owe Taxes? Consider Your Options

What do recent changes in tax payment options mean to taxpayers? What are the different alternatives available to taxpayers to resolve a tax assessment?  What are the differences between these options?  Herein is a review of three tax payment options:  … Continue reading

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Is a Partial Payment Installment Agreement all that it’s cracked up to be?

If you owe taxes, penalties, and interest of more than $10,000 and cannot pay them in full, you might consider requesting a Partial Payment Installment Agreement (PPIA) with the Internal Revenue Service.  For your application to be considered by the … Continue reading

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Cruising for Tax Deductions? Your Next Caribbean Cruise Can Be Tax Deductible, by William Brighenti, CPA

Are you sick of freezing weather and need some CPE credits?  Consider a Caribbean cruise and deduct its costs.  This article explains how. piese auto online

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Home Buyer Tax Credits: $8,000 or $6,500 Good Reasons to Buy a Home Before April 30, 2010

H.R. 3548 – Worker, Homeownership, and Business Assistance Act of 2009 was signed into law by President Barack Obama on November 6, 2009, offering an extension of generous tax benefits to first-time home buyers as well as expanding nearly comparable … Continue reading

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Independent Contractor or Employee? You Better Know!

Many employers erroneously think that they can “hire” individuals as independent contractors simply by having them agree to work under that designation, orally or in writing in the form of a contract.  Nothing could be further from the truth.  There … Continue reading

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How to Figure Your Home Office Deduction

Don’t spend hours reading Publication 587, trying to figure out how to calculate your home office deduction:  read the article, “How to Figure Your Home Office Deduction“, and follow the directives contained therein, including the schedules required for your type … Continue reading

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Confused by Publication 587′s 35 Pages on Home Office Deduction?

While reading Publication 587 “Business Use of Your Home”, and studying its flowchart on page 4 in an attempt to determine if you are entitled to a home office deduction on your tax return, do you find yourself a bit confused?  … Continue reading

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Married Partners Need Not File Partnership Return

Are you and your spouse operating a business together and filing partnership returns in addition to individual tax returns?  The Small Business and Work Opportunity Tax Act of 2007 now allows a “qualified joint venture” to elect not to be treated … Continue reading

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