John R. Dundon II, EA
LLC Income is INDEED Subject to Self Employment Tax: IRS Chief Counsel Advice 201436049
In 1997, the IRS issued proposed regulations governing when the distributive share of partnership income...
Marijuana Dispensary Income Tax Guidance Update: IRS Memo 201504011
As many of you know who follow my tax musings via this blog, I recently...
Final Tangible Property Regulations Necessitate that Many Businesses Apply for Change Of Accounting Method: IRS Form 3115; Rev Procs 2015-13 & 2015-14
Back in June 2014 I blogged about the new IRS Regulations governing tangible personal property....
IRS Form 1099-misc Filing Requirements Defined as per IRC 6041
I was talking with a taxpayer the other day who registered as an LLC with...
Can You Establish a SEP Plan if you are a Sole Proprietor? What if that Sole Proprietorship Had Historically Passive Income?
Regardless of their nature or topic matter, off beat questions are one of the spices...
2014 Depreciation Limits on Luxury Autos: IRS Rev Proc 2014-21
According to 26 U.S. Code § 280F - Limitation on depreciation for luxury automobiles the...
Take Care Closing Down An LLC – IRC 752 – Treatment of Certain Liabilities
A taxpayer reading one of my blog posts from Ishpeming, Michigan was compelled to call...
Virtual Currency Tax Implications – IRS Notice 2014-21
The question of the moment is whether virtual currency is here to stay or simply...
