The Sturbridge Taxman’s Blog
Clues to help solve your financial and tax puzzles!
August 28, 2008
It is not too late to review the Summer editions of the individual & small business newsletters. To see them now click below.
Tax Tips Newsletter For individuals
Tax Tips Newsletter for Small Businesses
In the future click>Client tools>Tax tips newsletters
tax tips (fed) - Comments closed
The IRS has developed Fact Sheet 2008-23 that helps explain when an activity is a hobby or a for profit business. Section 183 limits deductions that can be claimed when an activity is not engaged in for profit. Taxpayers may need a clearer understanding of what constitutes an activity engaged in for profit and the [...]
tax tips (fed) - Comments closed
August 21, 2008
The vehcile worksheet must be filled out for each vehicle used for business. For your 2008 tax return we need the total business miles driven from January through June 30, and the total business miles driven July 1 through December 31.
Please complete a separate form for each vehicle used for business:
vehicle-worksheet.pdf
New Useful Tools - Comments closed
August 15, 2008
Effective July 1, 2008, upon notification from the Massachusetts Department of Revenue, the Massachusetts Registry of Motor Vehicles may revoke or suspend a driver’s license, learner’s permit, right to operate a motor vehicle or certificate of motor vehicle registration for nonpayment of taxes. The statute also clarifies the licensee’s appeal rights. For more detailed information, [...]
tax tips (mass) - Comments closed
Leonard D. Rea, EA, CFP® (Enrolled Agent, Certified Financial Planner™)
and his team, serving individuals and businesses in the Massachusetts area since 1986.
