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…
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…
The Converted Home
A person purchases his/her first home, raises a family, but for some circumstances (e.g., better job, death of loved one, or even just to upgrade), decides to move out, but instead of selling the home, decides to keep it (maybe…
The Recapture
Sometimes when an individual person is in business some machinery and/or equipment gets used up, old, and even worn out, and may decide to sell the old machinery and/or equipment, so the individual business owner could raise funds to purchase…
