Blog on Tax Planning and Compliance

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Cost Accounting (Absorption)

The use of full absorption method of inventory costing In order to conform as nearly...
Grim Reaper and IRS agent in waiting room

When is a tax return not a tax return?

For most taxpayers, the tax year is a calendar year ending on December 31st. The...
A roulette wheel with a white ball landing on number 19.

New Gambling Deduction Rules

New rules about minimum reporting. In the past, a taxpayer with gambling winnings could offset...

Can your IRA or Qualified Retirement Savings be Levyed?

What is a lien or a levy? When the IRS sends a notice of lien,...
Two professionals reviewing financial charts and data together at a desk.

Tax Planning Tips for Small Businesses in California

Running a small business in California offers exciting opportunities, but it also comes with a...