IRS Warns Parents and Kids About Newest Scam

From The IRS News ? Issue IR-2016-81, May 27, 2016 WASHINGTON ? The Internal Revenue Service today issued a warning to taxpayers about bogus phone calls from IRS impersonators demanding payment for a non-existent tax, the ?Federal Student Tax.? Even though the tax...

New Overtime Rules Take Effect Dec. 1st

The Department of Labor has a new overtime rule that takes?effect Dec 1, 2016.? To summarize, if an employee is being classified as an exempt employee (and not currently being paid for any overtime), then their salary must be at least?$913 per week, which equates to...

AIRBNB and VRBO Can Spell Tax-Free Income

This past tax season we noticed an uptick in the number of clients who rented out their homes through websites such as?airbnb?and?VRBO.? Moreover, we saw a number of clients ask us how they would be taxed if they were to rent out their home on a short-term basis...

AIRBNB and VRBO Can Spell Tax-Free Income

This past tax season we noticed an uptick in the number of clients who rented out their homes through websites such as?airbnb?and?VRBO.? Moreover, we saw a number of clients ask us how they would be taxed if they were to rent out their home on a short-term basis...