News - John R. Dundon II, Enrolled Agent
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News

Starting July 1, 2010, many businesses offering tanning services must collect a 10 percent excise tax on the tanning services they provide. This excise tax requirement is part of the Affordable Care Act that was enacted in March 2010. Here are nine tips...

Shareholder Timothy McCloskey was assessed a trust fund penalty due to an unfortunate problem he had with his trusted bookkeeper and chief financial officer, Kathleen Lawson. On September 1, 2004, Kathleen left Timothy an apologetic letter of resignation. Upon reading it, Timothy knew that she...

Does a Club Car Carryall Villager LSV Crown CR-225, which looks like a fancy golf cart, qualify for the electric vehicle tax credit if it has a windshield and roof? The tax payers use the cart to drive around in their retirement community...

If you’re like most writers, you’re probably beside yourself wondering what you can deduct against your writing income when it comes to taxes. What does the Internal Revenue Service allow? What deductions send up a red flag? Will you be audited? And the big one: How much will you...

The Internal Revenue Service issued regulations outlining the administration of a 10-percent excise tax on indoor tanning services that goes into effect on July 1, 2010. The regulations were published today in the Federal Register. In general, providers of indoor tanning services will collect the...

The Treasury Inspector General for Tax Administration (TIGTA) issued the following report IMPACT ON TAXPAYERS The Automated Collection System (ACS) is a telephone contact system used by Internal Revenue Service (IRS) employees to perform critical IRS processes such as collecting tax revenues and helping taxpayers resolve their...

1. The tax bite is too big. 2. Retirement is too close. 3. Savings are too concentrated in one place. 4. Tax brackets often change in retirement. 5. The income can change your tax bracket now. If an investor is receiving Social Security benefits, the spike in income could force...