743 plain-English guides on us tax, each one ending in what to do next.
Page 29 of 31, newest first.
Hotel occupancy tax (also called transient lodging tax, hotel tax, room tax, or bed tax depending on where you operate) is a tax that state, county.
US TaxHotel payroll runs 30-45% of revenue and spans tip credits, FICA tip credit, overtime exemptions, seasonal FUTA rules, and banquet service charges.
US TaxProperty tax is typically the largest single fixed cost a hotel faces, surpassing insurance, franchise fees, and management fees in most markets.
US TaxMost hotel PIP dollars belong on 15-year QIP or 7-year FF&E schedules with 100% bonus depreciation; only structural work stays on 39 years.
US TaxHotel owners can deduct FF&E through bonus depreciation, OTA commissions as ordinary expenses, and most guest amenity costs.
US TaxClient money goes in a separate trust account, gets reconciled three ways every month, and earned fees come out promptly.
US TaxHow the IRS 20% accuracy-related penalty works under IRC 6662, when it applies, and the reasonable cause defense that can remove it.
US TaxWhen and how to request a Collection Due Process hearing from the IRS, the 30-day deadline, what you can challenge. Covers key rules, filing requirements,.
US TaxHow to respond to an IRS correspondence audit (CP2000, CP2501, letter 566). Most IRS audits are not the sit-down-with-an-agent kind.
US TaxThe line between a civil IRS audit and a criminal investigation is the most consequential boundary in the tax system. Covers key rules, filing.
US TaxEquitable relief is the third type of innocent spouse relief, and it is often the only option available. legally separated.
US TaxWhen one spouse's tax problems create a joint liability, Form 8857 offers three types of innocent spouse relief. Covers key rules, filing requirements,.
US TaxThe difference between an IRS federal tax lien and an IRS levy. A lien and a levy are not the same thing, and confusing them leads to wrong decisions.
US TaxSince 2018, the IRS can certify a taxpayer's seriously delinquent tax debt to the State Department, which then denies passport applications.
US TaxIRS statutes of limitation for assessment and collection. The 3-year, 6-year, 10-year, and unlimited rules, plus the tolling events that extend each one.
US TaxWhen and how to use the IRS Taxpayer Advocate Service. It is not a shortcut, not an appeals process, and not a complaint hotline.
US TaxLaw firms write off 10-15% of recorded time before billing, then collect only 85-90% of what they bill. A law firm records billable time.
US TaxThe chart of accounts must reflect all of this, or the financial statements will not tell the partners how the firm is actually performing.
US TaxIOLTA interest goes to the state bar foundation, not the lawyer or client. Before IOLTA, these funds sat in non-interest-bearing trust accounts.
US TaxLaw firms hold client data that is protected by attorney-client privilege, work-product doctrine, and ethical obligations under ABA Model Rule 1.
US TaxFor most law firms the entity question is really the S-corp question: whether to split owner income into salary and distributions.
US TaxA law firm partner's pay arrives as guaranteed payments and a distributive share on the K-1, and both carry self-employment tax.
US TaxLaw firm partners can defer over $200,000 a year by stacking a solo 401(k) with a cash balance plan. How each plan type works and the contribution limits.
US TaxA law firm without a succession plan loses value when a founding partner exits. It loses the client relationships that partner built over decades.