Five Ways to Avoid 100% Penalty - Corporate Officers May Be Personally Liable

Frequently, someone in your company—it may be the president, vice president, treasurer or some other officer—will have assumed the duty of collecting and depositing federal payroll taxes. That person could be in for a rude awakening one day.
According to an onerous provision in the federal tax law, any person who willfully fails to deposit the required income tax withholding or employment taxes can be held personally liable for any unpaid taxes. This is one time when the corporate shield cannot protect an individual.

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Mapping Out Deductions for Business Travel - How to Maximize the Tax Benefits of Business Trips

Are you planning a business trip to a distant city? If the destination is known for its cultural attractions or recreational activities, you might want to combine your business with a little pleasure. In fact, this could be a chance to get away after the children have gone back to school or to just spend some quality “alone time” with your spouse.

The good news is that the bulk of your expenses are deductible if you handle things the right way. However, if you are not careful, you could run afoul of some tricky tax rules.

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