Category Archives: Income

Six Tips on Gambling Income and Losses

Posted on August 27, 2013 by Andrew Schwartz, CPA

From IRS News: Whether you roll the dice, play cards or bet on the ponies, all your winnings are taxable. The IRS offers these six tax tips for the casual gambler. 1. Gambling income includes winnings from lotteries, raffles, horse … Continue reading →

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Implement SIBS – YouTube link

Posted on August 15, 2013 by Andrew Schwartz, CPA

Here’s our 6 minute YouTube presentation of how to implement SIBS ( a Simple Incentive Bonus System) for your practice so you can increase revenue and profits: https://www.youtube.com/watch?v=urSP2jAz6ag

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Renting Your Vacation Home?

Posted on August 13, 2013 by Andrew Schwartz, CPA

A vacation home can be a house, apartment, condominium, mobile home or boat. If you own a vacation home that you rent to others, you generally must report the rental income on your federal income tax return. But you may … Continue reading →

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TRAVELING ABROAD TO EARN SOME EXTRA INCOME? IF SO, THE IRS NOW HAS A NEW FORM FOR THAT.

Posted on August 8, 2011 by Andrew Schwartz, CPA

Recently, I’ve had a handful of clients send me e-mails that include this request from foreign businesses that they will be working with: As we have previously informed you, you will be receiving  honorarium for your lectures. To pay you … Continue reading →

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WHY THE FICA REFUND ONLY APPLIES TO PRE-4/1/2005 WAGES

Posted on September 1, 2010 by Andrew Schwartz, CPA

As we announced in our April 2010 newsletter, the IRS has agreed to process FICA refund claims submitted by residency programs and individual medical trainees for wages paid through March 31, 2005. The catch is that only refund claims previously … Continue reading →

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JULY 21ST IS DEADLINE TO APPLY FOR UP TO $5 MILLION GRANT FOR YOUR BIOMEDICAL RESEARCH PROJECT

Posted on July 1, 2010 by Andrew Schwartz, CPA

Would you be interested in having the government fund 50% of your 2009 and 2010 research expenditures? As long as your business has less than 250 employees, you have until July 21st to submit your application to the IRS on … Continue reading →

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