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Mileage Logs Required to Deduct Business Mileage

Mileage Logs Required to Deduct Business Mileage

A recent tax court case once again illustrates the point that written contemporaneous mileage logs are virtually a requirement to claim a deduction for business mileage. The taxpayer’s job required him to respond to emergencies, such as floods and hurricanes that...

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Reboot Your Home Office Router

Reboot Your Home Office Router

The FBI issued a Public Service Announcement (PSA) on May 25 recommending that any owner of small office and home office routers reboot their devices. Foreign cyber criminals have compromised hundreds of thousands of home and office routers and other networked devices...

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Sales Tax on Internet Purchases

Sales Tax on Internet Purchases

States often impose a sales tax on the purchase of consumer goods. The tax is generally collected by the seller of the consumer goods when a customer makes a purchase. The seller then remits the tax that is collected to the state taxing authority. If for some reason...

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The Difference Between Criminal and Civil Penalties

The Difference Between Criminal and Civil Penalties

The U.S. Supreme Court has issued a ruling on a criminal case involving obstruction and interference with the administration of tax law. The ruling illustrates the difference between being guilty of a felony vs. being subject to civil penalties. IRC section 7212 makes...

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Disaster Tax Relief Act of 2017

Disaster Tax Relief Act of 2017

The tax provisions contained in the new law apply to the disaster zones and areas declared by the President prior to September 21, 2017, and prior to October 17, 2017 for hurricane Harvey and hurricane Irma.

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New Mortgage Rules for 2017

New Mortgage Rules for 2017

Premiums paid for acquisition indebtedness for insurance contracts issued after December 31, 2006 on a first or second home are treated as deductible mortgage interest, subject to phaseout rules.

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