The Lighter Side of Accounting

The Lighter Side of AccountingDid you know 10 out of 9 accountants can’t count. You might be an Accountant if… You deduct Exlax as a “Moving Expense.” You wear a tie while cutting the lawn You cheer at more ...

Types of expenses peculiar to athletes

The following is a list of types of expenses peculiar to athletes: • Conditioning Expenses. An athlete is permitted to deduct expenses incurred in year-round physical conditioning, unless the activity in more ...

Why I Became a CPA, Vol. 4

We like to have fun at Preziosi Nicholson & Associates, and since it’s Friday we thought we’d share another round amusing “Why I Became A CPA” jokes. For the first more ...

AICPA Conference wrapup

These days, it seems the federal, state, and local governments are constantly reacting to one fiscal issue after another. Staying aware and informed on these key issues is the best more ...

AICPA National Governmental Accounting and Auditing Update Conference Preview

Preziosi Nicholson and Associates are currently attending the AICPA National Governmental Accounting and Auditing Update Conference in Washington, D.C. A brief description of what the AICPA is and does: "The American more ...

Tax Tips

Tips to Start Planning Next Year’s Tax Return

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IRS Tax Tip 2013-62, April 24, 2013 For most taxpayers, the tax deadline has passed. But planning for next year can start now. The IRS reminds taxpayers that ... more...

Foreign Accounts

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U.S. IRS eyes U.S. accounts at Caribbean bank By Nanette Byrnes The U.S. Justice Department said on Tuesday that a federal court had authorized the Internal Revenue Service ... more...

Tax Benefits From Hiring Your Children To Work In The Family Business

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Employing a child may generate tax savings regardless of how the family business is organized. Income shifting. Regardless of how a business is organized, its owners may be ... more...

IRS Offers Tips for Taxpayers Who Missed the Tax Deadline

The IRS has some advice for taxpayers who missed the tax filing deadline. File as soon as possible.  If you owe federal income tax, you should file and pay ... more...

Top Six Tax Tips for the Self-Employed

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When you are self-employed, it typically means you work for yourself, as an independent contractor, or own your own business. Here are six key points the IRS would ... more...

The Dirty Dozen Tax Scams for 2013

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IR-2013-33, March 26, 2013 WASHINGTON — The Internal Revenue Service today issued its annual “Dirty Dozen” list of tax scams, reminding taxpayers to use caution during tax season ... more...

Four Tax Tips about Your Unemployment Benefits

If you received unemployment benefits this year, you must report the payments on your federal income tax return. Here are four tips from the IRS about unemployment benefits. ... more...

IRS Tax Return Fun Facts & Famous Quotes

IRS Tax Return Fun Facts 2011-2012 140 million tax returns were filed in 2011 100 million refunds were issued totaling $300 billion! 80% of all returns were e-filed ... more...

Beware of Bogus IRS Emails

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The IRS receives thousands of reports every year from taxpayers who receive emails out-of-the-blue claiming to be from the IRS. Scammers use the IRS name or logo to ... more...

Business and Personal Use of Automobiles

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You use your car extensively for business, but do you get as much mileage out of your tax deductions? Taxpayers who use a passenger automobile, even a “luxury” ... more...