Money Talks: The Blog of Morris+D'Angelo
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17 May
$75 Receipt Rule, Business Vehicles, Listed Property, Passenger Automobile, Receipt Rule, Section274(d), Vehicle Expenses

$75 Receipt Rule for Business Vehicles

The Question I was having a conversation with a tax preparer who says there is no such thing as a $75 rule for receipts on vehicle expenses. He claims that we ... more
10 May
Adult Child, Date-of-Death Fair Market Value, Estate Tax Exemption, Estate-Tax-Avoidance, Fair Market Value, homeownership, No-Tax State, Real Estate, Real Estate Markets, Tax Avoidance, Unified Federal Exemption

Is Now the Time to Transfer Your Home to Your Adult Child?

Let's say that your adult child wants to enter the world of homeownership and is looking to buy a home in today’s "Overheated" real estate market. Needless to ... more
3 May
AB 5, Classification Settlement Program, CSP, Independent Contractors, Misclassified Workers, Payroll Taxes, Reasonable Basis, Section 530, Section 530 Relief, Substantive Consistency, W-2 Employees

Owe Taxes for Misclassified Workers? Section 530 to the Rescue!

Are you living every small business owner’s worst nightmare: an IRS audit? Okay, that’s bad. But even worse, suppose the IRS asserts that many of your 1099 ... more
26 Apr
Deed of Ownership, Equitable Title, Legal Owners, Legal Title, Mortgage, Mortgage Deductions, Mortgage Interest Deductions, Partial Legal Title, Property Laws, Quitclaim Deed, Real Estate Laws

Deducting Mortgage Interest When Your Name Is Not on the Deed

Tax law has an amazing break for unconventional homeowners. You can deduct your mortgage interest payments even when the deed to the house and the mortgage ... more
19 Apr
Form 1040, Good Health, Health Savings Account, High-Deductible Health Plan, HSA, Self-Employed, Shareholder-Employee, Tax-Advantaged Medical Savings Account

Health Savings Accounts: The Ultimate Retirement Account

Like many of us, I'm guessing that you're looking to save for retirement and/or make the best use of your available resources toward retirement? Surprisingly, ... more
12 Apr
Certified Mail, Federal Express, FedEx, First-Class Mail, Mailbox Rule, Private Delivery Services, Registered Mail, U.S. Mail, U.S. Postal Service

It’s Tax Filing Season—Mail Correctly to Avoid IRS Trouble

Parts of this article are published with permission from Bradford Tax Institute, © 2021 Daniel Morris, Morris + D’Angelo During your taxable life, you need to ... more
5 Apr
Cohan Rule, Form 1040, Home-Office Deduction, Internet Expense, Internet Expense Deduction, Internet Expenses, IRS Form 8829, Schedule C, Tax Cuts and Jobs Act, TCJA

Don’t Rob Yourself of the Home Internet Deduction

Parts of this article are published with permission from Bradford Tax Institute, © 2021 Daniel Morris, Morris + D’Angelo Given the connected nature of remote ... more
29 Mar
Federal-Income-Tax-Law, Form 1040, Gross Income, IRA, MAGI, Modified Adjusted Gross Income, Roth Contribution, Roth IRA, Schedule C, Tax Year Contributions

IRAs for Kids

Parts of this article are published with permission from Bradford Tax Institute, © 2021 Daniel Morris, Morris + D’Angelo Working at a young age in the United ... more
22 Mar
Colorado, Connecticut, D.C., Death Taxes, Domicile, Federal Estate Tax, Hawaii, Illinois, Iowa, Kentucky, Lower Tax State, Maine, Maryland, Massachusetts, Minnesota, Nebraska, New Jersey, Oregon, Pennsylvania, Personal State Income Tax, Rhode Island, State Tax Domicile, State Taxes, Vermont, Washington

Thinking of Moving to a Lower-Tax State? Tax Angles to Consider

Parts of this article are published with permission from Bradford Tax Institute, © 2021 Daniel Morris, Morris + D’Angelo If you’re considering moving to a ... more
15 Mar
Corporation Strategies, Employ Your Children, Health Insurance Premiums, Home Office, Home Office Deduction, Home Office Expenses, Owner Wages, Schedule C, Schedule C Taxpayers, Section 105 Plan, Tax Saving Strategies, Travel Expenses

Amplified: 10 Tax Strategies for S Corporations: What, How, Where

Parts of this article are published with permission from Bradford Tax Institute, © 2021 Daniel Morris, Morris + D’Angelo Question In last week's article ... more
4 Mar
Cell Phone Expenses, De Minimis, De Minimis Fringe Benefit Rules, Fringe Benefit Rules, Health Insurance Premiums, Home Office Deduction, Home Office Expenses, Schedule C, Schedule C Taxpayers, Section 105 Plan, Tax Saving Strategies

10 Tax Strategies for Schedule C Taxpayers: What, How, and Where

Parts of this article are published with permission from Bradford Tax Institute, © 2021 Daniel Morris, Morris + D’Angelo At Morris + D'Angelo, we pride ... more
1 Mar
Commercial Rate, Fair Market Rental Rate, Form 1099, Occupancy Taxes, Schedule E

Business Travel Tip: Stay at the Mom and Dad Hotel

Parts of this article are published with permission from Bradford Tax Institute, © 2021 Daniel Morris, Morris + D’Angelo How does this sound to you? A Tax ... more
22 Feb
College Student, Jobs Act, Kiddie-Tax, Professional Fees, Proprietorship Owners, Salaries, Schedule C Proprietorship, Self-Employment Tax, Self-Employment Taxes, Tax Cuts, Tax Optimization, Wages

Part Two: Three More Answers on “Paying for College—A Handy-Dandy Strategy”

Parts of this article are published with permission from Bradford Tax Institute, © 2021 Daniel Morris, Morris + D’Angelo Last week, in the article I shared ... more
15 Feb
Jobs Act, Proprietorship Owners, Schedule C Proprietorship, Tax Cuts, Tax Optimization

Part One: Paying for College; A Handy-Dandy Strategy

As I have mentioned before, we at Morris + D’Angelo believe that Tax Optimization is one of the most empowering and responsible things you can do to protect your ... more
9 Feb
Retirement, Retirement Plan, SEP-IRA, Solo 401(k), Tax Deductions, Tax-Deferred

SEP-IRA vs Solo 401(k): Which Should You Choose?

Parts of this article are published with permission from Bradford Tax Institute, © 2022 Daniel Morris, Morris + D’Angelo One way to multiply your net worth is ... more
1 Feb
Business Meals, Business Miles, Home Office, Section 105 Medical Plan, Self-Employed, Start-Up Expenses, Tax Deductions, Tax Reduction, Tax-Planning Strategies, Vehicle Deduction

14 Tax Reduction Strategies for the Self-Employed

It's a brand new 2022, 2021 has ended, and either you already have your 2021 taxes squared away or you're filing an extension so that you can figure out how to ... more
29 Jan
Business Travel, Business Trip, Business Vacation, Cruise Travel, Deductible Business Travel Expenses, First-Class, Presidential Suite, Rolls-Royce, Super Yacht, Travel Expenses

Five Rules for Turning Your Vacation—Even a Luxurious One— into Tax-Deductible Business Travel

Parts of this article are published with permission from Bradford Tax Institute, © 2021 Daniel Morris, Morris + D’Angelo Isn’t it about time you took a ... more
25 Jan
Executive Compensation, Morning Brew Podcast, Restricted Stock Awards, Stock Options

I Was Interviewed on the Morning Brew Podcast

I was honored to be interviewed on the Morning Brew Podcast last week where I was able to lend my expertise on the topic of Job Switching that seems to be a popular ... more
18 Jan
Bonus Depreciation, Depreciation, IRC Section 179, Regular Depreciation, Tax Rules

Ready, Set, Depreciate

Parts of this article are published with permission from Bradford Tax Institute, © 2021 Daniel Morris, Morris + D’Angelo When you buy real property (or ... more
11 Jan
Business Loss Deduction, Deductible Expenses, Federal Income Tax, Form 1040, Hobbies, Hobby, Hobby Loss Rules, Loss Deductions, Safe-Harbor Rules, Sideline Business

Is Your Sideline Activity a Business (Good) or a Hobby (Not Good)?

Parts of this article are published with permission from Bradford Tax Institute, © 2021 Daniel Morris, Morris + D’Angelo Do you have a "Sideline Activity" ... more
4 Jan
Employee Retention Credit, ERC, COVID Tax Credits, PPP Forgivable Loan, Paycheck Protection Program, PPP, Small Business

Don’t Miss Out on the Employee Retention Credit

Parts of this article are published with permission from Bradford Tax Institute, © 2021 Daniel Morris, Morris + D’Angelo Since the start of all the challenges ... more
3 Jan
American Rescue Plan Act of 2021, COVID Tax Credits, Employee Retention Credit, ERC, Paycheck Protection Program, PPP, PPP Forgivable Loan, Small Business

Say Goodbye to the ERC for the Fourth Quarter

Parts of this article are published with permission from Bradford Tax Institute, © 2021 Daniel Morris, Morris + D’Angelo Regarding the Employee Retention ... more
28 Dec
Capital Gains, Capital Losses, Ordinary Income, Stock Dividends, Stock Portfolio, Stocks, Tax Code, Tax Rules, Tax Strategies, Wash-Sale Loss Rule, Year-End Tax Strategies

2021 Last-Minute Year-End Tax Strategies for Your Stock Portfolio

Parts of this article are published with permission from Bradford Tax Institute, © 2021 Daniel Morris, Morris + D’Angelo The Basic Strategy: Avoid the high ... more
21 Dec
Alimony, Kiddie-Tax, Mortgage Deductions, Tax Bracket, Tax Deductions, Tax Optimization, Tax Strategies, Year End

2021 Last-Minute Year-End Tax Strategies for Marriage, Kids, and Family

Parts of this article are published with permission from Bradford Tax Institute, © 2021 Daniel Morris, Morris + D’Angelo If you have children under the age of ... more
14 Dec
Depreciation Strategies, Depreciation-Limited, Gross Vehicle Weight Rating), GVWR, MACRS, MACRS Depreciation, Short Bed, Tax Cuts and Jobs Act, TCJA

2021 Last-Minute Vehicle Purchases to Save on Taxes

Do you need a replacement business car, SUV, van, or pickup truck? Do you need tax deductions this year? If you answered yes to both questions, you need to ... more
7 Dec
Income Tax Deductions, IRS, IRS Safe Harbor, QIP, Qualified Improvement Property, Real Property, Schedule C, Tax Cuts and Jobs Act, TCJA, Year-End Strategy

2021 Last-Minute Year-End General Business Income Tax Deductions

Parts of this article are published with permission from Bradford Tax Institute, © 2021 Daniel Morris, Morris + D’Angelo The purpose of this article is to get ... more
30 Nov
Dealer Property, Investor Property, Long Term Capital Gains, Ordinary Income, Property Fix Up, Real Estate Dealer, Real Estate Investor, Self-Employment Taxes

Is a Property Fix-up and Sale an Investor or a Dealer Property?

Parts of this article are published with permission from Bradford Tax Institute, © 2021 Daniel Morris, Morris + D’Angelo Background I’m an independent ... more
23 Nov
401(k), Capital Gains, Employee Stock Ownership Plan, ESOP, Estate Planning, In-Kind Distribution, IRA Tax Plan, Lump-Sum Distribution, Medicare Surtax, Net Unrealized Appreciation, NUA, Profit Sharing, Retirement, Retirement Account

NUA Choice: A Tax Strategy to Consider If You Own Company Stock

Parts of this article are published with permission from Bradford Tax Institute, © 2021 Daniel Morris, Morris + D’Angelo Are you an employee who owns your ... more
16 Nov
Bitcoin, Brokerage Firm Account, Cryptocurrency, Cryptocurrency Losses, Harvest Tax Loss, Securities Sales, Tax Loophole, Tax Losses, Wash-Sale Rule

Loophole: Harvest Tax Losses on Bitcoin and other Cryptocurrency

Let’s start with this: You are not cheating when you use a loophole. The Merriam-Webster dictionary defines “loophole” as a means of escape. In ... more
9 Nov
Bitcoin, Blockchain, CCA, Chief Counsel Advice, Coinbase Exchange, Cryptocurrency, Cryptocurrency Transactions, Distributed Ledger Technology, Distributed Public Ledger, Federal Income Tax, Hard Fork, IRS, Short-Term Capital Gain, State Income Tax Consequences, Tax Implications, Taxable Brokerage Account, Taxable Gain, Virtual Currencies, Virtual Currency

IRS Focuses on Cryptocurrency: Are You Ready?

Parts of this article are published with permission from Bradford Tax Institute, © 2021 Daniel Morris, Morris + D’Angelo Cryptocurrencies have gone mainstre... more
2 Nov
Bitcoin, Blockchain, CCA, Chief Counsel Advice, Coinbase Exchange, Cryptocurrency, Cryptocurrency Transactions, Distributed Ledger Technology, Distributed Public Ledger, Ed Kless, Episode 363, Federal Income Tax, Hard Fork, IRS, Ron Baker, Short-Term Capital Gain, State Income Tax Consequences, Tax Implications, Taxable Brokerage Account, Taxable Gain, The Soul of Enterprise. Podcast, Virtual Currencies, Virtual Currency

Cryptocurrency, Cryptocurrency Transactions, and the Distributed Ledger Technology in "The Soul of Enterprise Podcast with Ron Baker and Ed Kless: Episode #363

Last week I was happy to be featured and participate in “The Soul of Enterprise” Podcast with “Financial-Thought-Leader” colleagues Ron Baker and Ed Kless ... more
26 Oct
Dragon Slayer,Bitcoin, Blockchain, CCA, Chief Counsel Advice, Coinbase Exchange, Cryptocurrency, Cryptocurrency Transactions, Distributed Ledger Technology, Distributed Public Ledger, Federal Income Tax, Hard Fork, IRS, Short-Term Capital Gain, State Income Tax Consequences, Tax Implications, Taxable Brokerage Account, Taxable Gain, Virtual Currencies, Virtual Currency

"The Soul of Enterprise Podcast with Ron Baker and Ed Kless: Episode #363

I was happy to be featured and participate in “The Soul of Enterprise” Podcast with “Financial-Thought-Leader” colleagues Ron Baker and Ed Kless last ... more
18 Oct
Federal Income Tax Savings, Home Sale Gain, Home Sale Gain Exclusion Break, Income Tax gain Exclusion Break, Income Tax Savings, Principal Residence Gain Exclusion Break, Principal Residence Tax Break, Qualified Individual, Real Estate Taxes, Residential Real Estate, Unrecaptured Section 1250 Gain

Refresher: Principal Residence Gain Exclusion Break (Part 3 of 3)

Parts of this article are published with permission from Bradford Tax Institute, © 2021 Daniel Morris, Morris + D’Angelo With residential real estate markets ... more
12 Oct
Federal Income Tax Savings, Home Sale Gain, Home Sale Gain Exclusion Break, Income Tax gain Exclusion Break, Income Tax Savings, Principal Residence Gain Exclusion Break, Qualified Individual, Real Estate Taxes, Residential Real Estate, Safe-Harbor Rule, Unrecaptured Section 1250 Gain

Refresher: Principal Residence Gain Exclusion Break (Part 2 of 3)

Parts of this article are published with permission from Bradford Tax Institute, © 2021 Daniel Morris, Morris + D’Angelo With residential real estate markets ... more
5 Oct
Federal Income Tax Savings, Home Sale Gain, Home Sale Gain Exclusion Break, Income Tax gain Exclusion Break, Income Tax Savings, Principal Residence Gain Exclusion Break, Real Estate Taxes, Residential Real Estate

Refresher: Principal Residence Gain Exclusion Break (Part 1 of 3)

Parts of this article are published with permission from Bradford Tax Institute, © 2021 Daniel Morris, Morris + D’Angelo With residential real estate ... more
27 Sep
Internal Revenue Service, IRS, IRS Audit, Later Tax Returns, Tax Extension, Tax Penalty, Tax Returns

Big Mistake: Filing Your Tax Return Late

Parts of this article are published with permission from Bradford Tax Institute, © 2021 Daniel Morris, Morris + D’Angelo What’s Late? You are allowed to ... more
21 Sep
IRS Disclaimers, IRS forms, IRS Tax Audit, Non-Acquiescence, Revenue Procedure, Revenue Ruling, Tax Audit, Tax Authority, Tax Court, Tax Law, Tax Rule

Find the Winning Tax Law for Your IRS Audit

Parts of this article are published with permission from Bradford Tax Institute, © 2021 Daniel Morris, Morris + D’Angelo If you ever find yourself in a ... more
14 Sep
Business Income, Business Income Limit, Married Taxpayers, S Corporation, Schedule C Net Income, Section 179 Deductions, Separate Tax Returns, W2

Tax Savings for Married Taxpayers Claiming Section 179 Deductions

If you are married, you need to know three special rules that can benefit your Section 179 deductions: The Section 179 business income limit includes W-2 ... more
7 Sep
COVID Tax Credits, Employee Retention Credit, ERC, Paycheck Protection Program, PPP, PPP Forgivable Loan, Small Business

Loophole: Harvest Tax Losses on Bitcoin and other Cryptocurrency

Parts of this article are published with permission from Bradford Tax Institute, © 2021 Daniel Morris, Morris + D’Angelo You are not cheating when and if you ... more
24 Aug
Home Office, Home-Office Deduction, Income Limit, IRS, IRS Income Limit

IRS Income Limit Mistake on Home Office Deduction

Can you ever imagine that the IRS could ever be wrong? If the IRS were wrong, what would be your strategy? Situation You use the office in your home as the ... more