Mike Crosa's Tax Blog

Imagine this: you didn’t issue Form 1099s to your associates. Now, the IRS is auditing your tax return, and the auditor claims you lose your deductions because you didn’t issue the Form 1099s. Is this correct? NO. IRS auditors often make this claim, but they are incorrect. There is no provision i...

 Realtors have been known to take a client to lunch or to a baseball or football game and then deduct the expense as a meal and entertainment expense. This has changed. The IRS has finally issued guidance on the business expense deduction for meals and entertainment following law changes in the T...