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Wondering when the Per Diem Revenue Procedure was ever going to be updated? Well the IRS just updated it! Click the following link to go to new IRS Revenue Procedure 2019-48 which addresses per diems. This replaces IRS Revenue Procedure 2011-47.
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Click here for information about California Individual Health Care Mandate: https://www.ftb.ca.gov/about-ftb/newsroom/news-articles/health-care-mandate.html
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Internet-based currencies are a popular investment/payment vehicle. They also require disclosure or reporting on the tax return but many ignore their accounts.
With the removal of job expenses under tax reform I have seen this scheme just like I predicted after the new tax laws were passed. It’s summed up in one really lame statement I heard:
“I make myself a 1099 worker by filing exempt from tax withholding for my W2 job and then claim all my travel expenses on a Schedule C, Self Employment Form. All my friends do it!!”
Nice try…..
This is a good study showing that the majority of business are not “evil” corporations who pay no tax, but that they are owned by individuals, who pay a substantial portion of the income taxes in the US
