In a tax court filing, the IRS has claimed that the Michael Jackson Estate has undervalued its assets. In the court filings, the IRS is telling the estate that there is an additional tax bill of more than $505 Million with, not including $197 Million in penalties.
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Referrals are our lifeblood. We do very little advertising and mainly count on word-of-mouth. Please consider telling your friends about us. We are getting tons of new clients this year and all of them are from referrals. I would like to take a moment to say thank you to those who have sent folks to us. I give you my promise - I will do my best to make sure you never regret sending us clients and they never regret coming to us. I have a client in a resort community whose in-house accountant will be relocating in the near future. This leaves an opening for a hard working and dedicated CPA that has experience in construction accounting. CPA designation and 3-5 years experience in the construction area is a must. The candidate must also have the willingness and desire to maintain excellence in their work-product. Reasonable relocation expenses will be paid and salary is negotiable with a base of 60k. Please e-mail your resume and references to: [email protected].
Snellman, TC Summary Opinion 2014-10TC Summary Opinion 2014-10 According to the above tax court summary opinion, a taxpayer's six-month out-of-town work assignment was temporary in nature and his "tax home" didn't shift to the temporary location. Therefore, he was entitled to deduct the associated travel, lodging, meal and incidental expenses. The courts did, however allow the IRS to reduce a portion of the taxpayer's expenses because he failed to keep accurate and contemporaneous records of his expenses.
A victory in some areas, but it shows that documentation is still key. See my blog at http://www.davidapope.com/1/post/2013/09/control.html . The is wonderful news for baby boomers who are beginning the process of selling their S-Corporation shares to their employees.
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