Taxes December 19, 2025
2025-2026 Tax Season Guide to OBBBA Tax Law Changes – SPECIAL SERIES
This series of articles spotlights key tax issues and changes made to tax law in 2025 and the years to come as a result of the OBBBA.
March 31, 2016
Medical Tax Deduction for Seniors Rising to 10% Threshold
They may not know it, but this may be the last year that some of your older clients will be able to claim a medical expense deduction.
March 31, 2016
Cloud System Simplifies Form 8621 PFIC Compliance
A new online tool from Expat Tax Tools is aimed at simplifying Form 8621: Information Return by a Shareholder of a Passive Foreign Investment Company or Qualifying Electing Fund. The cloud-based Form 8621 Calculator is designed for smaller companies ...
March 30, 2016
Don’t Even Try These Income Tax Deductions
Pets were a recurring theme: “I had a client this year tell me his last preparer let him write off the cost of his pet care on Schedule C because he took his dog to work with him every day, so it was considered a work-related expense."
March 30, 2016
STEM Grads Starting Salaries Top List At $64K
Business majors land in the fourth spot, with a projected starting average of $52,236, an increase from the projected $51,508 for Class of 2015 graduates.
March 30, 2016
73% of U.S. Companies Report Payment Fraud Attempts in 2015
BEC scams, short for business email compromise, are an increasingly common type of fraud which greatly impacts wire fraud. In 2015, 64 percent of organizations were exposed to BEC scams. Though checks continue to be the payment method most targeted by ...
March 29, 2016
Midsized Businesses Struggling With Tax Compliance
The research revealed that nearly half of business owners do not know how many fines they incurred in the past 12 months or how much they cost their organizations.
March 25, 2016
It’s Easy To File An Income Tax Extension: All You Have To Do Is Ask
The red-letter due date for filing for individual tax returns – April 18 for most taxpayers around the country – is rapidly approaching. When it’s needed or preferred, you can obtain a six-month extension for filing Form 1040, merely by asking the IRS.
March 25, 2016
Congress Approves Taxpayer Bill of Rights
With considerably less fanfare than the Bill of Rights ratified as the first amendments to the U.S. Constitution, the 114th Congress quietly approved the “Taxpayer Bill of Rights” as part of the Protecting Americans from Tax Hikes (PATH) Act of 2015.
March 24, 2016
Exotic Dancer Found Guilty of “Tax Seduction”
This wasn’t just a case of dollar bills being tucked into a G-string. A jury determined that the dancer failed to report close to $1 million -- $850,000, to be exact -- in taxable income from performing private dances and sexual favors during the ...
March 22, 2016
More Americans Saving Income Tax Refunds
Consumers know just what they want to do with their refunds this year: In addition to savings, 34.9 percent plan to pay down debt and 22.4 percent will use the refunds for everyday expenses. While 11.4 percent plan to book a vacation, 9.2 percent plan to
March 21, 2016
There’s Still Time To Reduce Your 2015 Income Taxes
The deadline for contributions to IRAs is April 18, this year’s filing deadline. For tax year 2015, most people under 50-years old may contribute the larger of either their taxable compensation for the year, or $5,500 to a Traditional IRA; those 50 or ...
March 21, 2016
3 Smart Ways To Use Income Tax Refunds
The average tax refund in 2015 was approximately $2,800 according to the IRS, and similar refunds are expected in 2016. For those getting a refund, there are many options to consider for what to do with this unexpected income.