We had a client buy a piece of equipment for his business. This piece of equipment happens to be handicap accessible. So we looked into it and there happens to be a tax incentive in doing this. IRS code sections 44 and 190 explain how a business owner can get a tax credit and/or tax deduction if they improve accessibility to their facility. So let…
At Incite Tax, we do our best to not use acronyms or industry jargon that others won’t understand. After all, we are tax geeky and we spend all day doing this stuff. Our clients spend all day running their business. When it comes to the type of business structure you should have, also known as entity type, there are some terms you need to know…
Accounting Today posted an article by Michael Cohn early July 2014. The article summarizes a report from the Treasury Inspector General for Tax Administration(TIGTA). (A position created in 1998 to provide independent oversight of IRS activities.) http://www.accountingtoday.com/news/irs_watch/irs-loses-billions-on-erroneous-amended-tax-returns-71263-1.html I have four major issues with this report. First – The title itself is a sign of everyone’s misunderstanding of the IRS. The IRS collects money for the…
You don’t have to believe the IRS The IRS mails millions of letters out to taxpayers every year. We kindly refer to these as nastygrams. There are around 76 different types of letters you could get. http://www.irs.gov/Individuals/Understanding-Your-IRS-Notice-or-Letter. Each has a notice number that only the IRS seems to know about. They tend to treat you like an idiot if you don’t know what notice number…
Incite Tax & Accounting is a Certified Public Accountant (CPA) firm with offices in Draper, Utah. With over 10 years of experience handling business taxes for large and small Utah companies, Incite Tax is one of the most qualified business CPA firms in all of Utah. No matter your tax needs, Incite Tax is the firm for the job.
Incite Tax believes in sticking it to the IRS. If you’re looking to better your financial situation contact us!
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