Deducting Un-reimbursed Professional Expenses

According to the IRS, to be deductible, an expenditure must be both “ordinary” and “necessary” in connection with your profession.? The IRS defines “ordinary” as common and accepted in a particular profession and...

Deducting Un-reimbursed Professional Expenses

According to the IRS, to be deductible, an expenditure must be both “ordinary” and “necessary” in connection with your profession.? The IRS defines “ordinary” as common and accepted in a particular profession and...

IRS Delays Tax Season

The IRS has announced it will delay the start of tax season due to the Federal government shut-down.? The agency needs adequate time to program and test tax processing systems prior to the start of next tax season. The earliest individual tax returns will be accepted...

DOMA Decision and Federal Tax Impact on Same Sex Married Couples

by Richard S. Schwartz CPA. CVA NOTE: On August 29th,the IRS announced that all legal same-sex marriages will be recognized for federal tax purposes. In June 2013, the US Supreme Court overturned Section 3 of the Defense of Marriage Act (DOMA), which defined a...