Our Blog: Flagel Voice

Put your audit in reverse to save sales and use tax

It’s a safe bet that state tax authorities Continue Reading

Understand Your Social Security Retirement Benefits

For years, people have questioned the Continue Reading

Do You Have a Deductible Business Loss or a Nondeductible Hobby Loss?

There's a fine line between businesses and Continue Reading

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Claiming a federal tax deduction for moving costs

Summer is a popular time to move, whether it’s so the kids don’t have to change schools mid-school-year, to avoid having to move in bad weather or simply because it can be an easier time to sell a home. Unfortunately, moving can be expensive. The good news is that you might be eligible for a […]

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Understand How the Definition of Independent Contractor Has Changed Again

Whether someone who performs work for you qualifies as an employee or an independent contractor matters a great deal in terms of your financial and legal obligations to that individual. This includes such issues as whether your business must pay minimum wage and overtime pay, and provide mandated employee benefits. Under President Obama, the U.S. […]

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Under-performing Employees May Be Salvageable

It’s easy to spot under performance, but correcting it is a different matter. The fact is, effectively managing your workforce, especially problem employees, just doesn’t come naturally to most people. Here’s some guidance to potentially help turn around an employee who is missing the performance mark. Tackling the Problem When an employee is under performing, […]

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Maximize the Effectiveness of Your Workplace Safety Programs

“No person should ever have to be injured, become ill, or die for a paycheck,” says the Occupational Safety and Health Administration (OSHA), the agency which enforces the requirement that workplaces be safe and healthful. OSHA administers the Occupational Safety and Health Act, which focuses on rules, inspection regimes, and penalties for failing to uphold […]

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Turning next year’s tax refund into cash in your pocket now

Each year, millions of taxpayers claim an income tax refund. To be sure, receiving a payment from the IRS for a few thousand dollars can be a pleasant influx of cash. But it means you were essentially giving the government an interest-free loan for close to a year, which isn’t the best use of your […]

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Establishing Residency for State Tax Purposes

Have you been contemplating moving to another state with lower taxes? Your move could lower your state tax bill, but you want to make sure to establish that the new state is your place of legal residency (also known as your “domicile”) for state tax purposes. Otherwise, the old state could come after you for […]

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The Ins and Outs of Deducting Legal Expenses

Legal expenses incurred by individuals are typically not currently deductible under the federal income tax rules. Instead, they’re most often treated as either personal outlays (which are nondeductible) or as part of the cost of acquiring an asset, such as real estate. When Can You Claim a Nonbusiness Deduction for Legal Expenses? As stated in […]

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Do you know the tax implications of your C corp.’s buy-sell agreement?

Private companies with more than one owner should have a buy-sell agreement to spell out how ownership shares will change hands should an owner depart. For businesses structured as C corporations, the agreements also have significant tax implications that are important to understand. Buy-sell basics A buy-sell agreement sets up parameters for the transfer of […]

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Tax Court Interprets Exceptions to the PAL Rules for Rental Properties

Real estate owners who rent their properties often incur tax losses due to depreciation write-offs and other allowable deductions. However, the ability to deduct those losses might be postponed indefinitely by the passive activity loss (PAL) rules. In general, these rules limit deductions for rental property PALs to the amount of income that you have […]

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Individual tax calendar: Key deadlines for the remainder of 2017

While April 15 (April 18 this year) is the main tax deadline on most individual taxpayers’ minds, there are others through the rest of the year that are important to be aware of. To help you make sure you don’t miss any important 2017 deadlines, here’s a look at when some key tax-related forms, payments […]

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