Medicare Contribution Tax: An ObamaCare Increase For 2013

Changes are coming in 2013. I’ve tried to make that clear over the last couple of months. If the world doesn’t end on Friday, we might get to find out. I’ve discussed the possible changes in 2013 tax brackets, the possible Estate Tax changes in 2013, and I’ve told you my biggest fear …

IRS Small Business Audit: Car And Truck Expense Problems


Small businessmen who are not engaged in a partnership use Schedule C in computing taxable profits. Provided that they keep decent books and records, the process is supposedly straightforward. They simply record the appropriate expense from his records onto the appropriate line of the Schedule. For example, Insurance Expense is recorded on Line 15; Office expense is recorded on Line 18. Yet, in our audit work we find that it is Car and Truck Expenses (Line 9) that cause a great deal of pain. Why is this so? In this article we will address the why and how typical taxpayers will get themselves into trouble when an IRS small business audit begins to examine car and truck expenses.


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2013 Federal Tax Brackets

Current tax compliance is the first step and totally critical towards a successful resolution of your tax problems. It’s also the last step. That is, if you’ve entered into an Installment Agreement, or you’ve been successful in obtaining an Offer in Compromise the resolution is not set in stone. …

FBAR Defendant Jon McBride Warns Others to Come Clean

Recently, I was fortunate enough to speak with Jon McBride – – the defendant in U.S. v. McBride  – –  about his case, which ruled in favor of the United States government and allowed the IRS to impose a $200,000 FBAR penalty against him. Mr. McBride was kind enough to allow me to record our …