If you are audited by the IRS, the audit will either be a field, office or correspondence audit.  You should not represent yourself in an audit; you should hire a CPA, Tax Attorney or Tax Preparer to represent you.  Remember…the IRS has the right to audit a return within three years from the due date or filing date. more…

January 31, 2011 is the deadline to furnish Form 1099-MISC to recipients.  The 1099-MISC form is used to report more than two dozen types of payments that must be claimed as income by the recipient.  This category includes payments made by businesses as fees to attorneys, service providers, and freelancers.  Other types of payments covered by the 1099-MISC include reimbursement for auto expenses, awards and bonuses, commissions, prizes, and vacation allowances for nonemployees.  A payer of rents and royalties must also file this tax document. more…

Frequently, parents will be encouraged to give their home to their children so the government won’t take it to pay any nursing home bills.  This is usually very bad advice.  Why is this not an appropriate strategy? more…

Partners & staff of Borgida & Company wish to thank all clients, friends and family who donated to this year’s 5th Annual Food Drive.  By your generosity, this year’s donations surpassed our expectations!  All items were donated to MACC Food Pantry.

Employers must make a determination whether someone who works for them is an employee or an independent contractor.

To assist them with this, the IRS has issued the “Twenty Factor Test”.  Here are the tests an employer applies in order to help make this determination: more…