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How to Deduct Vehicles Used By Employees

Oct 19 2013
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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

Oct 19 2013
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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

Oct 19 2013
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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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How to Set Up an Office in the USA

Jul 30 2013
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Many ambitious firms reach a point at which setting up operations in another country makes sense. A local presence can help you secure new clients and can offer opportunities not otherwise available to a non-local business. But wherever you are thinking of expanding, establishing
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How the IRS Knows Your Travel Dates

Jul 28 2013
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How Does The IRS Know Your Travel Dates? You’re probably thinking the NSA right? Well, you’d be surprised to know that while Snowden and his clan at the are NSA busy tracking your phone calls, the IRS is not relying on the NSA to supply it with your travel
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Are Golf Lessons Tax Deductible?

Jul 28 2013
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Wouldn’t it be nice if you can get a tax deduction for taking golf lessons to improve your golf game? You’ll be glad to know that you don’t need to be Tiger Woods and playing on the PGA tour to claim a tax deduction for your golf lessons. In fact, even your weekend duffer can,
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US Estate Tax When Spouse Is Not A US Citizen

Jul 28 2013
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Are you a US taxpayer married to a non US citizen spouse? If yes, then you’ll want to be aware of the US estate tax rules that can result in a sizable tax bill absent the right cross border estate planning. Recently, we started working with an American client, let’s call
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Don’t Risk a Do It Yourself Will

Jul 28 2013
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We all hear those commercials on the radio about doing your own will online. These commercials make writing your own will seem like an easy way to get your affairs in order. But it’s not as simple as it seems and there’s no substitute for proper advice from a
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Can You Depreciate Land?

Jul 28 2013
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How can you claim depreciation expense on land? As most people know, you cant claim depreciation expense on the value of land used for business or investment purposes. Why? Because unlike a building, for example, the IRS considers land to have an unlimited life. But, as we
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US Tax on Alimony Received From a Canadian

Jul 09 2013
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While most people know that alimony is normally taxable income to the recipient and tax deductible by the payer, in the case of cross border taxes, alimony can be received tax free while the payer still gets a tax deduction. Let’s look at an example where this would apply. Eliza
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