Author Archives: redsoxbuff

Are you an audit target? Here’s the latest scoop from them that (might) know.

Who’s most likely to get audited by the IRS this year? According to Debra Estrem, Managing Director of the scarily-named Tax Controversy Group at Deloitte Tax LLP, the service is going to be focusing more on the wealthiest taxpayers, but is also going to be focusing on people with unusually large deductions and business losses.… Continue Reading

Want to deduct your driving expenses? Tax court says you better keep excellent records.

A Tax Court case this year drives home the point that there are no shortcuts or bypasses for people wanting to take deductions for using a car for business. The taxpayers who went to court reached one dead end after another in their quest for write-offs, but the case provides a roadmap for anyone looking… Continue Reading

Trump’s tax plan benefits — Trump. Surprised?

Now we know what Donald Trump, the presidential candidate who won’t release his own tax returns, wants to do about taxes: Cut them for people like himself. His August speech in Detroit outlined his plans, which fall in line with what House Republicans, including zombie-eyed granny-starver Paul Ryan (thanks to Esquire’s Charles P. Pierce )have… Continue Reading