IRS issues 2016–2017 special per-diem rates for travel

Business travelers who incur expenses while traveling away from home have new per-diem rates to use in substantiating certain of those expenses, starting Oct. 1 (Notice 2016-58). The IRS on Tuesday provided the 2016–2017 special per-diem rates, including the transportation industry meal and incidental expenses rates, the rate for the [...]

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Should Landlords Set Up an LLC for a Rental Property?

If you own rental property, you’ve probably wondered about forming an LLC, a limited liability company. Although there isn’t one answer that applies to all landlords, [...]

What Is a Defective Irrevocable Trust?

In a trust, a trustor transfers title of his property into the name of the trust for distribution to beneficiaries at the time of death. Many families choose this option [...]

Tax scammers send fake CP2000s, IRS warns

Confronting the latest scheme to target taxpayers, the IRS and its Security Summit partners warned Thursday that scammers have sent fake emails purportedly containing CP2000 [...]

Global Value Add Inc. joins the US – India Chamber of Commerce – Dallas/FT.Worth

Stay connected with us on social media       Chamber News The Chamber would welcome our newest [...]

Using Corporate Minutes to Protect Against a Reasonable Compensation Challenge

We regularly emphasize how important it is to have your S Corp clients who perform services for their S Corp research and document their Reasonable Compensation as a strategy [...]

Establishing fair market value for purposes of Section 409A and stock option grants

As a general rule, all stock option grants need to have an exercise price at or above the fair market value of the company’s common stock on the date such grant is made. [...]

Rules change for ITINs and tax credits

Individual taxpayer identification numbers (ITINs) are commonly used by undocumented taxpayers who have a tax filing requirement. As a general rule, a taxpayer filing with an [...]

IRS Warns of Back-to-School Scams; Encourages Students, Parents, Schools to Stay Alert

The Internal Revenue Service today warned taxpayers against telephone scammers targeting students and parents during the back-to-school season and demanding payments for [...]

Moving Expenses Can Be Deductible

Did you move due to a change in your job or business location? If so, you may be able to deduct your moving expenses, except for meals. Here are the top tax tips for moving [...]