Another Day, Another Impeachment Hearing for IRS Commish

Posted by on Sep 26, 2016 in Blog | 0 comments

Although it has been demonstrated that numerous things Commissioner Koskinen testified to congress have proven to be false, he will likely not face any consequences for his actions.  Regarding the attempts to comply with a 2013 congressional subpoena to turn over to congress all communications from Lois Lerner during the time period of the targeting scandal, he told congress in the summer of 2014 that thousands of employee hours and millions of...

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California tampon tax survives due to Governor Brown’s veto

Posted by on Sep 14, 2016 in Blog | 0 comments

Citing fiscal concerns, Governor Brown vetoed a bill that would have ended the sales tax on tampons and other feminine supplies.  This bill, as well as another bill to end sales tax on diapers, although passed unanimously by the legislature did not survive the governors veto.  Another bill which would have conformed to a federal law granting tax relief from cancellation of debt income through a short sale or foreclosure of someone’s home...

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The Gig Economy: how is it taxed?

Posted by on Sep 7, 2016 in Blog | 0 comments

Many people have turned recently to providing services or renting their houses or cars to provide extra income through internet based sites such as AirBnB, Uber, taskrabbit etc.  IRS reminds us that this extra income is taxable and should be reported.  In general all income is taxable unless specifically excluded by statute.  On the IRS website, they have a page dedicated to providing info on the shared economy.  It is also imperative to...

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