Archives

Aug
14
2019

Company cars?

Does your business provide company cars to owners and key employees? This perk provides substantial valuable benefits for those provided with cars, as well as tax deductions for employers. There are complex rules for valuing the personal use of the cars. We can help you with the details. Be aware there are recordkeeping requirements. Employees must keep a diary or records with information about the employment business use of the auto (time, place, mileage, business purpose).

Aug
12
2019

Form 2290

Taxpayers can file Form 2290 electronically to pay heavy highway vehicle use tax | Internal Revenue Service http://bit.ly/33f6mS2

Aug
09
2019

What to do if your nonprofit receives an IRS audit letter

The IRS’s staffing shortages have been well publicized. But it’s a mistake to assume that the agency has stopped scrutinizing not-for-profits. Don’t panic if you receive an audit letter. The letter will inform about whether the IRS is conducting an in-person, field audit or a correspondence audit. This second type simply requires you to send requested records to the IRS. However, a correspondence audit can turn into a field audit if you don’t respond promptly.