by mariettacp | Jul 18, 2011 | Accounting News, Money Tips
In a recent speech, IRS Commissioner Doug Shulman indicated that the IRS is also looking ahead, analyzing taxpayer compliance data to recognize trends and improve compliance practices. He explained that the agency created an office of compliance data analytics that...
by mariettacp | Jul 15, 2011 | Accounting News, Money Tips
Meet the new IRS. It’s the kinder, gentler IRS. It’s an agency with processes that are fast becoming structured, streamlined, and strangely quiet. Quiet, that is, except on paper. More Internal Revenue Service notices are going out to taxpayers than ever...
by mariettacp | Jul 13, 2011 | Money Tips, Tax Tips
IRS has announced that the optional mileage allowance for owned or leased autos (including vans, pickups or panel trucks) will increase 4.5¢ from 51¢ to 55.5¢ per mile for business travel from July 1, 2011 to Dec. 31, 2011 to better reflect the real cost of operating...
by mariettacp | Jul 11, 2011 | Money Tips, Tax Tips
The Small Business Jobs Act doubled the amount that could be written off for 2010 to $10,000 and increased the phaseout threshold from $50,000 to $60,000. It is important to note that this increased deduction is temporary, and only applies to tax years beginning in...
by mariettacp | Jul 8, 2011 | Money Tips, Tax Tips
If you’ve recently started a business, or if you’re in the process of starting one, you should be aware of a tax law change that could make a big difference in your tax bill. The 2010 Small Business Jobs Act doubled the amount of start-up expenses that...
