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October 19, 2013

How to Deduct Vehicles Used By Employees

How do you deduct the expenses associated with a company owned vehicle provided to an employee? To take advantage of special tax deductions, a business client of ours recently leased some cars for their sales employees to use. The monthly vehicle lease on each car is say $200. In
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How To Lower Your Risk Of Being Audited By The IRS

We’ve all heard how forming a business entity limits an owner’s personal liability. What people don’t know is that forming a business entity can also lower your risk of being audited by the IRS. At Gedeon Law & CPA, as part of our continued effort to provide our clients with
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Restaurant Owners Beware: IRS to Classify Mandatory Tips as Wages

Does your restaurant charge a mandatory tip for groups larger than six patrons? If so, then you need to be aware that starting January 1, 2014 the IRS will now consider these mandatory tips as employee wages rather than tips. Moreover, these wages do not qualify for FICA tip
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