News - John R. Dundon II, Enrolled Agent
368
paged,page-template,page-template-blog-large-image-simple,page-template-blog-large-image-simple-php,page,page-id-368,paged-5,page-paged-5,bridge-core-2.9.2,qodef-qi--no-touch,qi-addons-for-elementor-1.5,qode-page-transition-enabled,ajax_fade,page_not_loaded,,qode_grid_1300,footer_responsive_adv,qode-content-sidebar-responsive,qode-theme-ver-28.4,qode-theme-bridge,qode_header_in_grid,wpb-js-composer js-comp-ver-6.7.0,vc_responsive,elementor-default,elementor-kit-269
 

News

Normally you have 60 days to do an IRA rollover of retirement plan distributions in order to avoid current taxation and possible penalty. If you have special circumstances challenging your ability to complete the rollover within this 60-day time frame, please be advised that there are...

I am knee deep in another interesting file under dispute with our esteemed taxing authorities involving At Risk Limitations. This is intended as the first of many posts on the topic as I navigate the shoals of a relatively complicated file that involves equipment leasing by...

The IRS permits taxpayers to use general predefined rates known as per diem rates to substantiate business expenses under Internal Revenue Code Sec. 274(d) for lodging, meals, and incidental expenses incurred while traveling away from home for business purposes. The General Services Administration (GSA) released the federal...

We often encounter taxpayers who do not quite fully understand how to report for income tax purposes the lease agreements they have entered into for business use assets, particularly automobiles.  Leased property includes real estate, machinery, and other items that a taxpayer uses in his...

According to Internal Revenue Code Section 1014 the basis of property acquired from a decedent is the fair market value of the property at the date of the decedent’s death.  In an environment of inflating asset prices this usually means that the beneficiary experiences stepped up basis...

Many people suffer from Celiac's disease.  To be eligible to deduct the excess costs of a gluten-free diet under Internal Revenue Code Section 213, you must have a documented reason to require the observance of a gluten-free diet, along with a physician's prescription to follow...

Everyday people misinterpret the tax code.  It does not matter if you are a bookkeeper, accountant, unlicensed tax practitioner, Enrolled Agent, CPA, tax attorney, or even a Tax Court Judge, the tax code is complicated and confusing and many of us struggle understanding it, much...

Share