Tax Tips for Law Firms

Whether you’re a partner or an associate in a law firm, the Internal Revenue Service has rules that apply specifically to you as well as several opportunities. Following is a list of tax provisions that affect attorneys in particular.     Tax Benefits...

Capitalization and Safe Harbor: Know the Rules

Whenever you spend money on your business, the expense is either deducted on your federal tax return in the year it is incurred or depreciated over time. But much more is involved than just that. And when you hear terms like capitalization and safe harbor, it can feel...

The Ins and Outs of Form 1099

You’ve probably received a 1099-INT tax form from your bank. It signifies it paid interest on your savings. Another may come from your state, attesting to its tax refund to you. If you’re a freelancer or contract worker, you may have received a 1099-MISC...

Tax Deductions: What’s New?

As many discovered with the tax season that recently ended, it was more beneficial to take the standard deduction and forgo itemized deductions. Then again, you may feel that your expenses exceed standard deduction amounts. Taxpayers will have to take a hard look at...
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