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The Difference Between an IRS Field, Office and Correspondence Audit

Posted in Tax News on November 26, 2010

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…

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1099 Reporting Guidelines

Posted in Tax News on November 19, 2010

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…

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Why Parents Should Not Give Their House to Their Children

Posted in Estate Planning, Tax News on November 12, 2010

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?

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Borgida's 5th Annual Food Drive a Success!

Posted in Events on November 5, 2010

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.

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The Difference between an Employee and an Independent Contractor

Posted in Tax News on November 5, 2010

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…

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