August Articles from SquarMilner

By Stephen Landsman, CPA

Our friend Stephen Landsman and the wonderful financial advisers at Squar Milner have some articles to share with us & our followers! Find their August Newsletter Articles below or the full newsletter here.

1) Do You Have a Deductible Business Loss of a Nondeductible Hobby Loss?

Do you walk the fine line between your business and your hobbies? If you’re like many who think of their side-activities as a business and who hope to possibly deduct their losses on tax returns, you’ll need to know the rules.

Profit losses relating to hobbies can’t be used to offset income from other sources and reduce your federal tax bill like a for-profit-business can. There are rules that define each side, however, and Stephen Landsman has got all the rules covered.

Read More.

2) Enjoying Tax Breaks at a Convention

Did you know you can deduct costs of trips to business conventions if the primary purpose of attendance is business-related?

Unless you visit outside the defined “North American area,” that is.

Read about the specified standards for reasonableness as well as tips for making sure your trips are business-related here!

Read More.

3) A Legally Binding Contract

Stephen Landsman gives you all the most important issues relating to “signing the dotted line.”

Duties & Obligations, Reps & Warranties, Special Provisions, and a look in to Contracts yesterday, today, and tomorrow makes this an article for every business person — experienced with contracts or not!

Read More.

If you or your business needs experienced contract review, contact the contract-experts at Stone | Dean’s Business Transaction Practice Group.

4) Do You Owe the AMT?

Mr. Landsman called the Alternative Minimum Tax (AMT) America’s taxation “equalizer.”

What is the AMT, what are the rules & provisions, where does the money go, and (most importantly) do you owe the AMT?

Find out here.

Stephen Landsman, CPA is an experienced financial-professional and tax-partner at SquarMilner. Our friends at the accounting firm SquarMilner are certified public accountants and financial advisers helping small businesses with effective financial consultation, audits, business management, and tax-preparation. Find out more by visiting their website: squarmilner.com/about/

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