April 8, 2017

Deducting startup expenses

The government allows businesses to write-off $5,000 of startup expenses. This $5,000 deduction is reduced by the amount that your total startup expenses exceed $50,000. Any startup costs that are not deducted in the current year can be amortized ratably over a 15-year period, beginning in the month you start operations....

April 8, 2017

As you rush to meet the filing deadline, don't overlook money-saving tax breaks — particularly if there's no need to hurry.

About a fourth of taxpayers wait until two weeks before the deadline to file their tax returns. These last-minute filers typically fall into two categories: Either they owe the IRS money, which removes any incentive to file early, or...

April 8, 2017

The Department of Justice has announced that Michael "The Situation" Sorrentino (Mike) and his brother, Marc Sorrentino, were indicted today on charges including tax evasion, structuring and falsifying records. These charges are in addition to charges which are already pending against the pair.

In September of 2014, the Sorrentino brothers were indict...

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