A recent Tax Court ruling saw a traveling salesman from Virginia disallowed a deduction for miles he had driven in the course of his work because he failed to properly document them (TC Memo 2016-111). Text from the Tax Court’s decision appears below, but the gist is that the IRS is serious in it’s requirement...
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The issue of identity theft has been coming up in a lot of client discussions I’ve had recently. As scary as having your identity stolen can be, many taxpayers take a lackadaisical approach to protecting themselves and assume that identity theft is something they read about in the headlines, but not something that will happen...
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Back in October, on Facebook and Twitter I linked to a Washington Post article on the new MCC Program offered by the Virginia Housing Development Authority, under which certain eligible homebuyers can get a credit against Virginia income tax for up to 20% of the mortgage interest they pay. The other 80% of mortgage interest...
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