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    What information do I need in a mileage log? | Why keep a mileage log? – YouTube

2 08, 2014

What information do I need in a mileage log? | Why keep a mileage log? – YouTube

By |August 2nd, 2014|Blog|Comments Off on What information do I need in a mileage log? | Why keep a mileage log? – YouTube

What information do I need to keep in a mileage log? Why keep a mileage log? What does the IRS want to know about the miles I am claiming for business? Find out why it is important to keep a mileage log for your business whether you or are using the standard or the actual mileage deduction for your business taxes.
via What information do I need in a mileage log? | Why keep a mileage log? – YouTube.

30 06, 2014

Travel reimbursement policies: What You Need to Know

By |June 30th, 2014|Blog|Comments Off on Travel reimbursement policies: What You Need to Know

Travel reimbursement policies: What You Need to Know
Our goal is to help you understand the issues surrounding allowance payments and various reimbursements and the proper tax treatment. We will cover:
Additional board member Compensation allowances
Employee travel Allowances
Personal automobile Allowances for employees, and
other travel reimbursements
via Travel reimbursement policies: What You Need to Know.

6 06, 2014

Form 2106, Employee Business Expenses

By |June 6th, 2014|Blog|Comments Off on Form 2106, Employee Business Expenses

Form 2106, Employee Business Expenses
Use this form if you are an employee deducting ordinary and necessary expenses for your job.
An ordinary expense is one that is common and accepted in your field of trade, business, or profession. A necessary expense is one that is helpful and appropriate for your business. An expense does not have to be required to be considered necessary.
via Form 2106, Employee Business Expenses.

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    Publication 463, Travel, Entertainment, Gift, and Car Expenses

24 05, 2014

Publication 463, Travel, Entertainment, Gift, and Car Expenses

By |May 24th, 2014|Blog|Comments Off on Publication 463, Travel, Entertainment, Gift, and Car Expenses

Publication 463, Travel, Entertainment, Gift, and Car Expenses
This publication explains what expenses are deductible, how to report them on your return, what records you need to prove your expenses, and how to treat any expense reimbursements you may receive.
via Publication 463, Travel, Entertainment, Gift, and Car Expenses.

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    New 1023-EZ Form Makes Applying for 501(c)(3) Tax-Exempt Status Easier; Most Charities Qualify

16 05, 2014

New 1023-EZ Form Makes Applying for 501(c)(3) Tax-Exempt Status Easier; Most Charities Qualify

By |May 16th, 2014|Blog|Comments Off on New 1023-EZ Form Makes Applying for 501(c)(3) Tax-Exempt Status Easier; Most Charities Qualify

IRS YouTube Video
Form 1023-EZ: English
IR-2014-77, July 1, 2014
WASHINGTON — The Internal Revenue Service today introduced a new, shorter application form to help small charities apply for 501(c)(3) tax-exempt status more easily.
“This is a common-sense approach that will help reduce lengthy processing delays for small tax-exempt groups and ultimately larger organizations as well,” said IRS Commissioner John Koskinen. “The change cuts paperwork for these charitable groups and speeds application processing so they can focus on their important work.”
via New 1023-EZ Form Makes Applying for 501(c)(3) Tax-Exempt Status Easier; Most Charities Qualify.

26 04, 2014

Mary Wilson Keener Frisco CPA FAQ 2013 IRS Mileage Rates Just Released – YouTube

By |April 26th, 2014|Blog|Comments Off on Mary Wilson Keener Frisco CPA FAQ 2013 IRS Mileage Rates Just Released – YouTube

Published on Jan 9, 2013
2013 IRS Mileage Rates Just Released FAQs:
972-377-7078 http://mwkcpa.com Mary has been a Frisco CPA since 1980. From 1980 to 1997 she was a business owner, which allowed her to develop skills in managing a business and creating ways to calculate and measure results from sales and marketing efforts. In 1997 she began work in tax preparation for the public, always keeping the mindset of an entrepreneur.
via Mary Wilson Keener Frisco CPA FAQ 2013 IRS Mileage Rates Just Released – YouTube.

25 04, 2014

Tax Topics – Topic 511 Business Travel Expenses

By |April 25th, 2014|Blog|Comments Off on Tax Topics – Topic 511 Business Travel Expenses

Travel expenses are the ordinary and necessary expenses of traveling away from home for your business, profession, or job. Generally, employees deduct these expenses using Form 2106 (PDF) or Form 2106-EZ (PDF) and on Form 1040, Schedule A (PDF). You cannot deduct expenses that are lavish or extravagant or that are for personal purposes.
You are traveling away from home if your duties require you to be away from the general area of your tax home for a period substantially longer than an ordinary day’s work, and you need to get sleep or rest to meet the demands of your work while away.
via Tax Topics – Topic 511 Business Travel Expenses.

31 03, 2014

FAQs for Disaster Victims – Travel Expenses

By |March 31st, 2014|Blog|Comments Off on FAQs for Disaster Victims – Travel Expenses

03/09) Q: If your employer has to relocate to another location because of a disaster, how do you determine if you will be able to deduct your travel costs? A: The answer will depend on whether the employer move is realistically expected to be for less than or more than one year. A temporary assignment away from home, an assignment whose termination can be foreseen within a fixed and reasonably short period (less than one year), does not shift the “tax home.” via FAQs for Disaster Victims – Travel Expenses.

31 01, 2014

2014 Standard Mileage Rates

By |January 31st, 2014|Blog|Comments Off on 2014 Standard Mileage Rates

IR-2013-95, Dec. 6, 2013
WASHINGTON — The Internal Revenue Service today issued the 2014 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes.
Beginning on Jan. 1, 2014, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) will be:
56 cents per mile for business miles driven
23.5 cents per mile driven for medical or moving purposes
14 cents per mile driven in service of charitable organizations
via 2014 Standard Mileage Rates.

30 04, 2012

Standard Mileage Rate vs Actual Vehicle Expenses

By |April 30th, 2012|Blog|Comments Off on Standard Mileage Rate vs Actual Vehicle Expenses

Should I Claim The Actual Vehicle Expenses or The Standard IRS Mileage Rate?
The IRS provides a standard mileage rate for the deduction of vehicle miles driven used in your business, you are allowed to choose between this standard mileage rate or the actual expenses you incur from owning and operating a business vehicle.
via Harbor Financial » Blog Archive Standard Mileage Rate vs Actual Vehicle Expenses.