Jason Dinesen

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So far Jason Dinesen has created 866 blog entries.

Trends I Am Noticing in the Tax Field

By | July 22nd, 2019|Categories: Potpourri of Tax Topics|

I can't believe it's been 6 months since I last blogged. Tax season hit, various things happened in my life, I didn't have time to write articles, and now here we are. This is a practice-management topic: things I am noticing in dealing with clients, and other trends I am noticing in this business now that [...]

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Rental Owners, 1099s, And the New QBI Guidance

By | January 18th, 2019|Categories: Small Business Tax and Accounting|Tags: |

The IRS released a revenue procedure today (Friday) that clarifies the treatment of rental properties and the “qualified business income” deduction. The revenue procedure provides a safe harbor where rental activity can be presumed to be a “trade or business” for QBI purposes. This ties back into the 6-part series I posted a month ago about [...]

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Glossary: Form 1099-C

By | January 16th, 2019|Categories: Potpourri of Tax Topics|

Form 1099-C is a form used by lenders to report canceled debt to the IRS. Canceled debt is often taxable to the recipient, though the tax code contains a number of "outs" that can allow the recipient to avoid taxation. Examples of those outs include when the taxpayer is insolvent, or foreclosures on a taxpayer's primary [...]

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Glossary: Railroad Retirement Benefits

By | January 9th, 2019|Categories: Potpourri of Tax Topics|

Railroad Retirement Benefits are a type of retirement benefit paid to -- as the name suggests -- people who worked for the railroad. There are two types of Railroad Retirement Benefits: Tier I and Tier II. Tier I Tier I benefits are equivalent to Social Security benefits and are taxed in the same way. Tier II [...]

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From the Archives: The $250 Educator Expense Deduction and College Professors

By | January 2nd, 2019|Categories: From the Archives|Tags: , |

It's a holiday week so I am re-publishing popular posts from the past. This post deals with whether or not a college professor can take the $250 deduction for educator expenses. One update to the last sentence, on the part about the professor instead taking a miscellaneous itemized deduction -- "tax reform" has taken away miscellaneous [...]

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