Li’l Wayne In Trouble With The IRS-Again…

GJMCPAAdmin1

Hip-hop star Lil Wayne is back in trouble with the Internal Revenue Service. Uncle Sam filed a lien against the recording artist alleging that he owes $868,079.89 in taxes on his 2014 income. This isn’t the first time the IRS…

Read More

April 15th Is Almost Here-Are You Ready?

GJMCPAAdmin1

Constantly thinking about how much money you owe the Internal Revenue Service? Always worried that you’ll never be able to get out from under this crushing debt? Wondering what effect this debt will have on your future and the future…

Read More

Deducting Home Mortgage Interest in Unusual Circumstances

GJMCPAAdmin1

Deducting qualified residence interest, or mortgage interest on personal residences, continues to create disputes with the IRS. The rules for the deduction have been around for years and, unlike most types of personal interest, it can be itemized. Qualified residence…

Read More

IRS Initiates Tax Design Competition

GJMCPAAdmin1

Aims to Make Online Tax Information Easier to Understand For Readers  Washington, D.C. (March 23, 2016) By Michael Cohn, Courtesy of Accounting Today The Internal Revenue Service is offering up to $10,000 to the winner of a new competition to…

Read More

More on Travel and Entertainment Recordkeeping

GJMCPAAdmin1

Previously we discussed the importance of recordkeeping to maintain your travel expenses, but there’s certainly more to just keeping records-it’s important to know what records you need to to keep & what your can exempt: Receipt Rules You generally need…

Read More

Feds Indict Former U.S. House Candidate For Tax Evasion

GJMCPAAdmin1

The politico did not pay over to the IRS payroll taxes totaling more than $200,000. Federal prosecutors have filed tax evasion charges against a former Republican candidate in Florida for a seat in the U.S. House of Representatives. According to…

Read More

Strictly Speaking: Travel and Entertainment Recordkeeping

GJMCPAAdmin1

If you’re reporting travel and entertainment (T&E) expenses on your tax return and you’re audited, there’s a good chance an agent will take a hard look at those items. Often the challenge won’t be whether the expense was appropriate for…

Read More

Brace Your Business for Disaster Scams

GJMCPAAdmin1

Few things in life are certain, but when disaster strikes, the number of fraud incidents will probably skyrocket. In the wake of a hurricane, tornado, flood, fire, earthquake or other unexpected catastrophe, fraudulent operators are always quick to surface. Often,…

Read More

How to Tackle Key Financial Issues as You Face Retirement

GJMCPAAdmin1

The Baby Boomer generation reached its peak in 1957 at an annual birth rate of about 4.3 million people. It’s hard to believe that these Baby Boomers will turn 59 years old in 2016. An important rite of passage that…

Read More

IRS Files Tax Lien Against Business Owned By Politician

GJMCPAAdmin1

The Arkansas state senator owes $111,000 in unpaid payroll and employment taxes. The Internal Revenue Service has filed a tax lien against a company owned by Arkansas state Sen. Jake Files. The U.S. government alleges that the business owes $111,000…

Read More