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Year-End Tax Tip If You Use Your Vehicle For Business | Big Bear Tax Lady's Blog
https://bigbeartaxlady.wordpress.com/2016/12/04/year-end-tax-tip-if-you-use-your-vehicle-for-business
Big Bear Tax Lady's Blog. Just another WordPress.com weblog. Year-End Tax Tip If You Use Your Vehicle For Business. If you use your vehicle for business, you must keep a mileage log for both total AND business miles driven, or the IRS can disallow your deduction. A tip I give to my clients is to always schedule a vehicle service (oil change, tire rotation, etc.) around December, so that you have an IRS-approved documentation of your vehicle’s annual odometer reading. IRS Repeats Warning about Phone Scams.
Tax Tip For Realtors | Big Bear Tax Lady's Blog
https://bigbeartaxlady.wordpress.com/2016/12/04/tax-tip-for-realtors
Big Bear Tax Lady's Blog. Just another WordPress.com weblog. Tax Tip For Realtors. Tax Tip For Realtors: You are only allowed to deduct client gifts for up to $25 per client, per year. However, expenses to finalize the close of a sale, such as escrow repairs, cleaning, snow plowing, appliance repair and/or replacement, are deductible without those limits. This entry was posted on December 4, 2016, in Uncategorized. Year-End Tax Tip If You Use Your Vehicle For Business. A Note From The IRS… →.
Tax Tips Students Who Take a Summer Job | Big Bear Tax Lady's Blog
https://bigbeartaxlady.wordpress.com/2014/05/19/tax-tips-students-who-take-a-summer-job
Big Bear Tax Lady's Blog. Just another WordPress.com weblog. Tax Tips Students Who Take a Summer Job. The IRS has some info for students who are planning on working this summer:. If it’s your first job it gives you a chance to learn about the working world. That includes taxes we pay to support the place where we live, our state and our nation. Here are eight things that students who take a summer job should know about taxes:. 3 Keep in mind that all tip income is taxable. If you get tips, you must k...
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Big Bear Tax Lady's Blog. Just another WordPress.com weblog. Tax Tips For Noncash Charitable Contributions. Whenever you donate items to a charity (church, thrift store, etc.), ALWAYS ask for a receipt. Once you have the receipt in hand, file it in a “Tax Documents” folder for the current year (if you haven’t set up a file folder yet, now is a good time! In the event of an audit, you may be asked to prove the donation. This entry was posted on April 30, 2014, in Uncategorized. 1 Check the preparer’s qual...
Tax Tips on Child Care This Summer | Big Bear Tax Lady's Blog
https://bigbeartaxlady.wordpress.com/2014/06/11/tax-tips-on-child-care-this-summer
Big Bear Tax Lady's Blog. Just another WordPress.com weblog. Tax Tips on Child Care This Summer. While overnight camps or the cost of summer school tutoring do NOT qualify for the Dependent Care Credit, various types of day camps can qualify. Here’s what the IRS says on this subject:. 1 Your expenses must be for the care of one or more qualifying persons. Your dependent child or children under age 13 usually qualify. For more about this rule see Publication 503, Child and Dependent Care Expenses. 4 As a ...
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Big Bear Tax Lady's Blog | Just another WordPress.com weblog
Big Bear Tax Lady's Blog. Just another WordPress.com weblog. How Long Should We Keep Tax Records? Throughout the year, I am asked by clients “How long should I keep my tax paperwork? 8221; The IRS issued some guidelines that will help answer that question:. Whether stored on paper or kept electronically, the IRS urges taxpayers to keep tax records safe and secure, especially any documents bearing Social Security numbers. The IRS also suggests scanning paper tax and financial records into a format tha...
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