The key word is “purchase.” Equipment can be new or used and includes certain software. Some deductions can be taken whether or not you qualify for the home office deduction itself. Keeping these receipts makes it so much easier to determine percentages of deductions later on in the year. The effort to come up with crystal-ball estimates may be difficult and by its very nature will be inexact. On the other hand, you should already be projecting your sales revenues, income, and cash flow for general business planning purposes.
Bijan is an Enrolled Agent (EA), a professional tax practitioner licensed by the U.S. Department of Treasury to represent taxpayers before the Internal Revenue service. OptimaNet Tax Services specializes in Tax Audit representation as well as Tax and Accounting services for small and medium-sized businesses.
- Our mission is to remove the burden of business accounting from your operation altogether.
- Our Firm will evaluate and analyze your internal control system.
- When you enroll in coverage through the Marketplace during Open Season, which runs through Jan. 31, 2016, you can choose to have monthly advance credit payments sent directly to your insurer.
- Bijan is also a Certified Fraud Examiner and provides Forensic Accounting Services.
- Be careful of locations that include ongoing floor shows or other distracting events that inhibit business discussions.
- Investigating these cases requires experience, integrity, and determination.
Prime distractions are theater locations, ski trips, golf courses, sports events, and hunting trips. Improper allocation of income to a related taxpayer who is in a lower tax bracket such as where a corporation makes distributions to the controlling shareholder’s children. We are proud of our track record with a long history and extensive experience with all Taxing Agencies.
In 2016, the mileage reimbursement rate is 54 cents per business mile (57 cents per mile in 2015). Entertainment expenses are legitimate deductions that can lower your tax bill and save you money, provided you follow certain guidelines. Claims for fictitious or improper deductions on a return such as a sales representative’s substantial overstatement of travel expenses or a taxpayer’s claim of a large deduction for charitable contributions when no verification exists. Heading the team, Bijan Kohanzad, EA, is a Certified Fraud Examiner, CFE, with extensive knowledge and experience in the field of forensic accounting. We offer a wide range of monthly accounting, bookkeeping, and tax services to our clients.
IRS Warns of Latest Scam Variation Involving…
In the article, the authors assess the standard of living of the Finnish population. The object of the study was selected regions of the country at the NUTS 2 level. Form 8962, Premium Tax Credit (PTC), reconciles the amount of advance credit payments made on your behalf with the amount of your actual premium tax credit. You must file an income tax return for this purpose even if you are otherwise not required to file a return. Lari has an outstanding arrest warrant in Arizona for alleged possession of opium, and Mojaddam has multiple arrests for alleged fraud, the affidavit said.
If your household income is more than 400 percent of the Federal Poverty Line, there is no limitation amount for any filing status. The arrests capped an 18-month investigation by the Drug Enforcement Administration and FBI that began when German authorities intercepted nearly $5 million worth of opium in Dusseldorf, Germany. We have the means to get to the bottom of your most complicated financial matters. Our team of forensic accountants brings a diverse background of experience to each matter.
Bijan Kohanzad
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problems. Lari’s wife, Marjan Sarshar, 47, who was accused of loan fraud, was released on bail. During the first of 10 narcotics transactions by the ring, a confidential informant traveled with Nasseri-Jafar and other couriers in April 2002, as they transferred 11 suitcases of opium from Germany to the United States, the affidavit https://accounting-services.net/bookkeeping-california/ said. The informant said four suitcases were handed to Mojaddam and another person during a meeting at a Santa Monica motel, Pullen said. According to the affidavit, telephone records showed that Nasseri-Jafar was in contact with Lari, 47, of Santa Monica and Mojaddam, 32, of Los Angeles. And bank records established that Nasseri-Jafar used Mojaddam’s home address on a California account, the affidavit said.
Our mission is to remove the burden of business accounting from your operation altogether. Whether you have a wage garnishment, bank levy, un-filed tax returns, have business payroll issues, or need to restructure a payment plan, we are confident our team of tax professionals can help. Repayment limits by household income as a percentage of the federal poverty line are listed below.
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In the affidavit, Pullen alleged that Nasseri-Jafar had a network of Los Angeles-area contacts who would buy and distribute opium that was smuggled into the United States by couriers who were carrying false-bottom suitcases. Nasseri-Jafar also acted as a courier, and U.S. immigration records showed that he had made 13 trips between Los Angeles and Germany or France in the two years before his arrest, Pullen said. Whichever method you decide to use to take the deduction, always be sure to keep accurate records such as a mileage log and receipts. If you need assistance figuring out which method is best for your business, don’t hesitate to contact the office. If you use your car for business such as visiting clients or going to business meetings away from your regular workplace you may be able to take certain deductions for the cost of operating and maintaining your vehicle. You can deduct car expenses by taking either the standard mileage rate or using actual expenses.
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Those arrested were Iranian nationals, including the owner of a downtown Los Angeles jewelry design store. The home office deduction is quite possibly one of the most difficult deductions ever to come around the block. Yet, there are so many tax advantages it becomes worth the navigational trouble. Here are a few tips for home office deductions that can make tax season significantly less traumatic for those of you with a home office. If you own two cars, another way to increase deductions is to include both cars in your deductions.
Tax Planning for Business Owners
They don’t even think about their taxes until it’s time to meet with their accountants, but tax planning is an ongoing process and good tax advice is a valuable commodity. It is to your benefit to review your income and expenses monthly and meet with your CPA or tax advisor quarterly to analyze how you can take full advantage of the provisions, credits and deductions that are legally available to you. When you enroll in coverage through the Marketplace during Open Season, which runs through Jan. 31, 2016, you can choose to have monthly advance credit payments sent directly to your insurer. If you get the benefit of advance credit payments in any amount, or if you plan to claim the premium tax credit, you must file a federal income tax return and use Form 8962. The standard of living of the population is a multifaceted complex socio-economic category that illustrates the level of development and the degree of satisfaction of the physical, social, and spiritual needs of the population. An assessment of the standard of living is necessary to identify «weak» aspects in the development of individual countries and their internal regions and to develop a competent national and regional policy.
Department of Treasury to represent taxpayers before the Internal Revenue Service (IRS). EAs are different from other tax professionals because they are the only practitioners required to demonstrate competence, specifically in matters of taxation. They are the only taxpayer representatives who receive that right from the U.S. government, rather than from individual states. Bijan is also a Certified Fraud Examiner and provides Forensic Accounting Services. The wiretaps, Pullen alleged, also indicated that Lari had laundered the drug money through numerous property purchases. Citing bank records, telephone calls and informant reports, Pullen alleged that several Los Angeles suspects used local businesses to sell the opium and launder the proceeds.
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