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Oasis RV Boat Storage

Oasis RV Boat Storage
Gary and Maria Ruwaldt found inspiration in an unexpected place: a boat storage facility 

Tax Implications of Fantasy Football

  • 24 August 2016
  • Author: Alexander Carr
  • Number of views: 1157
  • 0 Comments
Tax Implications of Fantasy Football
The NFL regular season kicks off September 8 and, with it, millions of football fans will be participating in fantasy football leagues (more than 50 million, in fact). The rise of daily fantasy games (DFGs) like those offered through FanDuel and DraftKings are fueling the trend. But how do fantasy football winnings (or losings) affect taxes?

The Online Sales Tax You’re Likely Getting Wrong

  • 16 August 2016
  • Author: Alexander Carr
  • Number of views: 1555
  • 0 Comments
The Online Sales Tax You’re Likely Getting Wrong

You may be surprised to find out that if you regularly purchase goods online, you’re likely also regularly breaking the law. How so? It’s because you may be inadvertently disregarding the “use tax” on those goods.  

Tax Tips for Trading or Bartering Goods and Services

  • 9 August 2016
  • Author: Alexander Carr
  • Number of views: 823
  • 0 Comments
Tax Tips for Trading or Bartering Goods and Services

Freelancers do it, nonprofits do it, even up-and-coming family businesses (as well as 70 percent of all Fortune 500 companies) do it. No, it’s not falling in love. It’s trading goods and bartering services. And you may be surprised to know that it’s an entirely taxable event.

How the IRS Deals With Frivolous Claims

  • 28 July 2016
  • Author: Alexander Carr
  • Number of views: 1081
  • 0 Comments
How the IRS Deals With Frivolous Claims

Frivolous may be a word often used in British comedies but the IRS is quite fond of it as well. Receive a letter from the IRS accusing you of frivolous deductions or that your reasons for failing to file taxes altogether are frivolous, and you may be in some very hot water. 

Why Rock Bands Are Wailing Against Tax Havens

Why Rock Bands Are Wailing Against Tax Havens

Wilco, Coldplay, Radiohead. What do these rock bands have in common? It’s more than just great music, it’s a passion for ending tax havens (sheltering money in a foreign country or independent area where taxes are low). Surprisingly, rock bands have a long and fascinating history when it comes to forging ahead into uncharted tax strategy territories. 

What Triggers a Tax Audit?

What Triggers a Tax Audit?
You may have heard that IRS audits of individuals have hit an 11-year low. This past year, the IRS has been auditing fewer than 1 in 100 individual taxpayers. But don’t allow those statistics to embolden you. Thousands of taxpayers still get audited each year. If you’re a high-earner, with $500,000 to $1 million earned annually, your chances of an audit jump to more than 4 percent. The picture changes again when it comes to business audits. Corporations tend to be audited more often (as much as 12 percent of large corporations).

Texas CPAs and Confidentiality

  • 28 June 2016
  • Author: Alexander Carr
  • Number of views: 1327
  • 0 Comments
Texas CPAs and Confidentiality

It’s a case that has business owners scratching their heads. Two former PwC accountants were recently on trial in Luxembourg accused of leaking corporate tax details to the press.  Are the accountants whistleblowers who should be praised or did they commit an unethical breach of confidentiality? Does the case hold any lessons to be learned for Texas small business owners?

10 Business Identify Theft Tips

10 Business Identify Theft Tips

Last year, Ars Technica reports, the IRS shut down an electronic tool for obtaining tax data after a massive fraud operation involving commercial data breaches managed to extract filing data for hundreds of thousands of taxpayers. This year, the IRS is facing a new wave of fraud, as criminals engage in a phishing campaign to obtain employees' W-2 form data.

Fake Rappers Exposed in Biggest Tax Fraud Bust in U.S. History

  • 14 June 2016
  • Author: Alexander Carr
  • Number of views: 1000
  • 0 Comments
Fake Rappers Exposed in Biggest Tax Fraud Bust in U.S. History
Tax fraud comes in many shapes and sizes. In fact, the IRS estimates that 17 percent of all taxpayers fail to comply with tax laws in one way or another. Cash-intensive businesses and service industry workers are the worst offenders. The IRS claims that waiters and waitresses underreport their cash tips by an average of 84 percent.
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