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September 2017

How do I? Distinguish partnerships from other arrangements

A partnership is created when persons join together with the intent to conduct unincorporated venture Read more [...]

August 2017

How Do I? Deduct student loan interest

An eligible taxpayer can deduct qualified interest on a qualified student loan for an eligible student's Read more [...]

July 2017

June 2017

How do I? Safeguard tax benefits against natural disasters

As “hurricane season” officially begins, the IRS has released a number a tax tips, reminders Read more [...]

May 2017

How Do I? Differentiate tips from service charges for tax purposes

Although the employee may end up with the same amount whether something is designated a tip or a service Read more [...]

March 2017

How do I?…claim the federal fuel tax credit

The first step is to determine if you qualify for the federal fuel tax credit. The IRS has uncovered Read more [...]

February 2017

How Do I? Establish a profit motive for business activities

The IRS has rules that limit the deductibility of expenses and losses from a hobby or activity not engaged Read more [...]

January 2017

How do I? Know what records to discard

A new year may find a number of individuals with the pressing urge to take stock, clean house and become Read more [...]

November 2016

How do I? Make tax-free gifts for tuition

With the soaring cost of college tuition rising on a yearly basis, tax-free tuition gifts to children Read more [...]

October 2016

How do I….subordinate a federal tax lien?

A federal tax lien on real or personal property may be terminated or altered in the following ways: The Read more [...]

September 2016

How do I? Opt-in to the new partnership audit rules

The IRS has issued temporary regulations (T.D. 9780) that explain how a partnership can opt in to the Read more [...]

August 2016

How do I? Substantiate meal expenses using the per-diem rate method?

An employee or self-employed individual is allowed a deduction for the costs of meals and incidental Read more [...]

July 2016

How do I: Get an extension of time to change a method of accounting?

A taxpayer changing its method of accounting must either request advance IRS consent or apply for automatic Read more [...]

June 2016

How do I…calculate the EITC for members of the U.S. military?

To claim the EITC, a taxpayer must satisfy two tests with respect to earned income. First, the taxpayer Read more [...]

May 2016

How do I? Determine a residential tax credit for solar panels

Individual taxpayers may claim a nonrefundable personal tax credit for qualified residential alternative Read more [...]

April 2016

How do I? Set up a like-kind exchange

Under Code Sec. 1031, a taxpayer can make a tax-free exchange of property held for productive use in Read more [...]

March 2016

How do I? Arrange an installment payment agreement with the IRS?

The IRS always urges taxpayers to pay their current tax liabilities when due, to avoid interest and penalties. Read more [...]

February 2016

How do I? Prove business expenses

Everyone in business must keep records. Among other things, good records will help a business prepare Read more [...]

January 2016

How Do I? Elect to be taxed as an S corporation?

An S election is made by a small business corporation with the consent of its shareholders. Both the Read more [...]

December 2015

How Do I? Compute payroll taxes as an employer

A business that has employees must withhold income taxes on payments to each employee. Each employee Read more [...]

How Do I? Follow the new-for-2015 one-IRA rollover-per-year limit?

As most people know, a taxpayer can take a distribution from an IRA without being taxed if the taxpayer Read more [...]

How do I . . . Change my tax withholding?

An employer must withhold income taxes from compensation paid to common-law employees (but not from compensation Read more [...]

How do I…Protect against tax-related identity theft?

The IRS expects to receive more than 150 million individual income tax returns this year and issue billions Read more [...]

November 2015

How Do I…Shift Taxable Income into 2016?

As the calendar approaches the end of 2015, it is helpful to think about ways to shift income and Read more [...]

How Do I…Shift Taxable Income into 2016?

As the calendar approaches the end of 2015, it is helpful to think about ways to shift income and deductions Read more [...]
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