Michael Johnson, CPA                                           Call 702-675-3524

CATEGORY LAS VEGAS

  • What can my business deduct?

    ¦•¦ BUSINESS SERVICES ¦•¦ LAS VEGAS ¦•¦ TAX PREPARATION ¦•¦
    Michael Johnson, CPA // December 5, 2013

    What can my business deduct?

    I often hear many creative things from clients… Can I deduct getting a massage? It relieves stress! Can I deduct my car? Can I deduct my trip to Las Vegas? Can I deduct my hair cuts? Can I deduct my gym membership? Most of the answers to these questions are “It depends.” In order to be a deductible business expense, the expense must be ordinary and necessary for the business, not…
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  • Employee vs. Independent Contractor

    ¦•¦ LAS VEGAS ¦•¦ PAYROLL SERVICES ¦•¦ TAX PREPARATION ¦•¦
    Michael Johnson, CPA // June 18, 2013

    Employee vs. Independent Contractor

    I often get asked if a worker is an employee or independent contractor. There is no set rule on this, but there are many factors that the IRS will look at in order to correctly categorize the worker. Each situation is unique and should be looked at by a tax professional. If you have someone who is actually an employee, who you are categorizing as an independent contractor, you are at risk…
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  • American Taxpayer Relief Act – Fiscal Cliff

    ¦•¦ CPA ¦•¦ LAS VEGAS ¦•¦ SHORT SALE ¦•¦ TAX PREPARATION ¦•¦
    Michael Johnson, CPA // January 2, 2013

    American Taxpayer Relief Act – Fiscal Cliff

    As many of you know, Congress finally passed a bill to preserve most of the Bush-era tax cuts. It also extended many other lapsed tax provisions. What does all this mean? If Congress did not act, individual tax rates were set to rise on everyone! The American Taxpayer Relief Act allowed the tax brackets to remain the same for individuals. A new top rate bracket was added which w…
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  • Is a short sale on a principal residence taxable?

    ¦•¦ CPA ¦•¦ LAS VEGAS ¦•¦ SHORT SALE ¦•¦ TAX PREPARATION ¦•¦
    Michael Johnson, CPA // June 6, 2012

    Is a short sale on a principal residence taxable?

    Financially and emotionally, going through a short sale or foreclosure can be a difficult time for many people. The last thing you want to have to worry about is how much you will have to pay the IRS for the amount of cancelled debt. A big concern I hear from clients is regarding the amount of money they will owe if they sell their home and the debt is forgiven. The Mortgage Debt Relief Act…
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