Colorado Certified Public Accountant and Business Advisor
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Tax Tips are not a substitute for legal, accounting, tax, investment or other professional advice. Always consult with your trusted accounting advisor before acting upon any Tax Tip.
Tax Tips are not a substitute for legal, accounting, tax, investment or other professional advice. Always consult with your trusted accounting advisor before acting upon any Tax Tip.
Facts and Figures
*Tax Formula--The tax law does not allow medical deductions for expenses that benefit an individual's general health. New ruling: A woman who could not breast-feed her child purchased infant formula instead. The IRS said the formula satisfies the baby's basic nutritional requirements, so it cannot be deducted as a medical expense. Accordingly, the cost does not qualify for reimbursement under a flexible spending account.
*Serious Business--You may have seen first-hand how humor can lighten the mood in a somber workplace or defuse a potentially explosive situation. It can also increase productivity. But know that humor should have its boundaries. Although everyone's sensibilities will differ, it is usually better to poke fun at situations rather than people. Use your moral compass to avoid crossing the line.
*Serious Business--You may have seen first-hand how humor can lighten the mood in a somber workplace or defuse a potentially explosive situation. It can also increase productivity. But know that humor should have its boundaries. Although everyone's sensibilities will differ, it is usually better to poke fun at situations rather than people. Use your moral compass to avoid crossing the line.
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TAX ADVICE DISCLAIMER: In accordance with IRS Circular 230, any tax advice included in this communication, including attachments, is not intended or written to be used, and cannot be used by you or any other person or entity, for the purpose of avoiding penalties that may be imposed under the Internal Revenue Code or applicable state or local tax law provisions, nor may any such advice be used to promote, market or recommend to another party any transaction or matter addressed within this communication. If you would like such advice, please contact us.
Denver Metro
303-799-0476
303-799-0476
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