ARTICLES

A recent Tax Court case serves as a reminder of the importance of contemporaneous documentation. Over a period of years, Thomas Kaider provided a number of services to his uncle, Edward Quinn. Some of these services related to Quinn's businesses,...

If you own stock in a small business corporation, check to see whether you qualify for an important tax break. Since 1993, the tax law has contained a tax exemption for part or all of the gain that individuals realize on the sale of qualified small...

As a result of changes made by the Affordable Care Act, health coverage provided by your employer for your children under 27 years of age is generally tax-free. Effective March 30, 2010, this expanded healthcare tax benefit applies to various...

In a recent case, the Tax Court ruled that payments made to caregivers for providing physician-ordered assistance and supervision to a patient suffering from dementia qualified as long-term care services and were thus deductible amounts paid for...

With the 2012 election cycle in its early days, it is only a matter of time before your phone starts to ring with candidates and political organizations soliciting monetary contributions. For many years, questions have been raised as to whether...

Many young people have summer jobs or will be going off to college soon and getting jobs to help foot the bill. Here are six tips from the IRS about employment that you may want to share with your children who are working. When you first start a...

The courts continue to be confounded over the question of whether an overstatement of basis that causes an understatement of gain or overstatement of loss on the sale of an asset is an event that allows the IRS to invoke the six-year statute of...

The Tax Court has refused to allow a theft loss deduction to a senior citizen who claimed he was swindled out of his retirement savings. Oscar C. Hawaii owned and operated a small trucking business. By early 2005, he had accumulated retirement...

The IRS has announced that the optional mileage allowance for owned or leased autos (including vans, pickups or panel trucks) will increase from 51 cents to 55.5 cents per mile for business travel. The increase took effect on July 1, 2011. The...

While June may be the traditional month for weddings, the IRS offers a number of tax tips for newlyweds at any time of the year. Among those tax-related changes that newlyweds should think about now are notifications of change of name and address,...

Most tax-exempt organizations are required to file an annual return or notice, a requirement that is important to people claiming a tax deduction for charitable giving. The IRS automatically revokes the exemption of any organization that fails to...

It seems as if every neighborhood has a "cat lady." And now the Tax Court has Jan Van Dusen. Van Dusen is an attorney who cares for cats in her private residence. She volunteers for a qualified charitable organization called Fix Our Ferals. Van...