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Archives for January 2016

The IRS’s Treatment of Bitcoin Payments

January 21, 2016 by Onlyfordentists

If you’ve paid attention to the news the last few years, then you have probably heard of Bitcoins. In fact, you may even have considered accepting them as payment for services or product sales. Before you do, you’ll want to make sure you have an understanding of how the IRS treats Bitcoin payments. First, it’s […]

Filed Under: Monetary Policy, Taxes

Section 179 – Why it Still Matters

January 14, 2016 by Onlyfordentists

Section 179 allows a business to deduct the total cost for qualified leased, financed or purchased equipment in the year it was purchased instead of depreciating the cost over the life of the equipment. Typically, however, Congress waits until after the first of the year to renew this section, which can hurt small business owners […]

Filed Under: Taxes

How to File an Appeal with the IRS

January 4, 2016 by Onlyfordentists

The thought of having to communicate with the Internal Revenue Service about something you believe is an agency error is intimidating to most people. However, you are allowed to start a dialogue with the IRS if you feel that its findings are incorrect. The tax code is massive and often difficult to decipher, and everyone […]

Filed Under: Taxes

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