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If you’re claiming a deduction for meals, entertainment, auto or travel expenses, expect the IRS to closely review it. Too often, taxpayers have incomplete documentation or try to re-create records months (or years) later. In doing so, they often fail to meet the strict...

Once upon a time, Crumbs Bake Shop was the sweetheart of New York City. It started in 2003 as a mom-and-pop bakery on New York’s Upper West Side and eventually grew into the nation’s largest cupcake retailer, peaking at 70 stores. In 2010, Crumbs was included on Inc....

Many expenses that may qualify as miscellaneous itemized deductions are deductible for regular tax purposes only to the extent they exceed, in aggregate, 2% of your adjusted gross income (AGI). Bunching these expenses into a single year may allow you to exceed this “floor.” So...

Sometime this year, a U.S. District Court in Detroit will dive back into the weeds to decide whether a particular job at Ford Motor Corporation could be done adequately by an employee working four days a week from home. That’s the task it was given by the U.S. Court of...

Every year, Americans are more likely to send e-mail messages, bank online, archive family photos and participate in social media. Many people even decide to “go paperless,” paying bills and accessing all account information online. It’s a sign of the times that...

New research has shed light on the current state of affairs in the HSA world. As noted, the pace of HSA formation has picked up. A survey by the industry group “America’s Health Insurance Plans” (AHIP) found 28 percent of the nearly 400,000 HSAs in existence at...

SupplierPay is a new program that 26 public companies have already joined, which promises to pay small suppliers faster and offers low-cost financing solutions to suppliers with limited access to capital. This private-sector program – announced by the White House and Small...

A taxable sale of a business might be structured as an installment sale if the buyer lacks sufficient cash or pays a contingent amount based on the business’s performance. An installment sale also may make sense if the seller wishes to spread the gain over a number of years —...

While the IRS isn’t about to publish a list, there are a number of items that are known to raise the IRS’s interest in a return. What are your chances of being audited? For individuals, it depends on your income. In fiscal year 2013, returns reporting income of under...

Shiny new 2015 vehicles are arriving at car dealerships around the country. But shoppers willing to forego the latest bells and whistles may be able to get a hot deal on a new 2014 model. Dealers and manufacturers offer large incentives to move last year’s models off the...