Many clients are now renting their homes and apartments out. However, they do not realize that there are tax consequences for doing so, if the rental is for less than a period of 30 days. In other words, if you rent your home out for 29 days or less, you […]
Post Tagged with: "Julie A. Camden"
Retroactive Tax Law Benefits for 2017
The Bipartisan Budget Act caused the Internal Revenue Service to allow three popular tax benefits to be claimed retroactively. Most of these benefits expired in 2016 but can be claimed in 2017. The Internal Revenue Service’s system has been reprogrammed to accept these benefits. The first benefit is exclusion from […]
Tax Differences Between LLCs and Corporations
If you are thinking of forming a new business, an important question to consider is how you want that business to be structured. In Indiana, there are many types of business entities, including sole proprietorships, partnerships, limited partnerships, limited liability companies (LLCs), and corporations. Most businesses these days are structured […]
IRS Update: Private Companies Will Now Collect Federal Tax Debts
On Monday, the IRS announced that it would have private companies collect Federal tax debts, pursuant to a federal law enacted by Congress in December. They chose for contractors to do this: CBE Group in Iowa, Conserve and Pioneer in New York, and Performant in California. The goal of this […]