Author Archives: Tim Van Cleve, CPA

Tim Van Cleve, CPA

Blog posts by Tim Van Cleve, CPA

Tennessee Repeals Gift Tax

My good friend Bryan Howard of Howard & Mobley, PLLC wrote a summary on the State of Tennessee repealing the gift tax, and what it means to you. In a surprising move, the Tennessee legislature has repealed Tennessee gift taxes, effective for gifts made on or after January 1, 2012. This is welcome news for… Read More »

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Contractors: The IRS man cometh and may take an additional 3%

Good news for contractors: It appears that implementation of the law requiring 3% withholding on government contracts will be delayed from Jan. 1, 2012 to Jan. 1, 2013. Bad news for contractors:  Most general contractors don’t make a 3% profit on contracts; therefore, the withholding could be as much as or more than the profit… Read More »

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Working on a construction job out-of-town?

Generally speaking, you can get a tax deduction for living expenses incurred while you are on a temporary construction job as long as the assignment is realistically expected to take one year or less. For example, let’s say you live and work mainly in one city. But because of a shortage of construction jobs, you take a… Read More »

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New help for taxpayers who fall behind

The IRS recently unveiled a new program to help struggling individual taxpayers and small business owners pay off tax debts and avoid tax liens. The new program is the latest in a series of efforts designed to assist taxpayers who can’t pay. In 2008, the IRS provided lien relief for individuals trying to refinance or sell their… Read More »

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