Let A California Employee Go!!!
As a business owner looking forward and sees that costs are going up as another year (or years) go by, and may need to lay off, or even let some employees go, or many have other reasons to conclude the…
Extending Depreciation
Since October is here, the US Supreme Court is back in session, Congress (as usual) enacts a temporary budget bill for the new fiscal year (which starts on October 1st), and most schools, colleges, and/or universities are in full swing,…
Claiming Rental Losses
As was written here once before that a person who owns a rental property has the possibility of claiming rental losses, with a few restrictions. One restriction is that generally speaking rental activities is a passive activity, and under the…
Cohen Rule
It has been constantly been advised by every licensed tax practitioner and/or accountant across the country that when someone is in business, he/she should always keep receipts, in case one gets audited by the Internal Revenue Service, and/or any other…
A Mortgage Case
As was discussed in the last posting was on the mortgage interest tax deduction, and what were the limitations, and also that one could claim more than one residence for the mortgage interest deduction. However, what happens if two individuals…
