Taxes March 23, 2026
12 Little-Known Tax Deductions Many Business Owners Miss
From start-up costs to even health insurance premiums, identifying overlooked expenses early can make a meaningful difference to a company’s tax returns.
June 20, 2016
Tax Tips Q&A for June 2016
Small Business Tax Strategies offers pointers on some common situations. For more details and expert advice and guidance, visit a CPA. Generate energy credits in your state Q. In the last issue (SBTS May 2016), you explained rules for federal residential energy credits. Can you get this on a state level too? Anonymous A. Possibly....…
June 16, 2016
Congressional Committee Votes to Censure IRS Commissioner
Koskinen took over the reins at the IRS in December 2013. Despite the charges levied against him, he has previously said that he intends to stay on until the end of his four-year term.
June 15, 2016
IRS To Hold EITC and ACTC Tax Refunds Until Mid-February Starting in 2017
The IRS says that, next tax season, processing of early-filed income tax returns with the Earned Income Tax Credit (EITC) or Additional Child Tax Credit (ACTC) will be delayed. Specifically, the agency will hold tax refunds until at least Feb 15.
June 13, 2016
States Could Improve Business Tax Compliance By Sharing Data
Business tax non-compliance is a problem that plagues states across the U.S., but could be improved if states were able to more easily share data, according to new research by the Governing Institute. The survey of tax and revenue officials across 29 ...
June 6, 2016
Increase in Payments Fraud Worries Financial Pros
Eighty-eight percent surveyed believe that payments fraud will become a bigger threat to the financial services sector over the next two to three years. Despite this anticipated increase, just one in 10 attendees felt that an effective ...
June 3, 2016
How to Deduct Tuition Costs When Going Back to College (Trump Univ. Doesn’t Count)
Can you deduct the cost of going back to a school to get ahead in your career? It depends. If you pass a definitive tax law test, certain expenses are deductible on your personal tax return, albeit as miscellaneous expenses subject to an annual limit.
June 3, 2016
IRS Needs To Clamp Down on Hobby Losses, Says Watchdog
pproximately 1.2 million taxpayers may have used hobby losses to reduce their taxable incomes to potentially avoid paying $2.8 billion in taxes in 2005. The overall objective of the latest review was to determine whether the IRS is taking sufficient ...
May 25, 2016
Accounting Firm Closes Offices for Day of Giving Back to Communities
The yearly firm-wide community service event works with nonprofits to set up a variety of day-long philanthropic projects that serve the communities where employees live and work.
May 25, 2016
Tax Court Approves Compensation Paid to Business Founder’s Sons
On its tax returns, the company deducted about $4 million in compensation and $7.3 million paid to the sons in 2003 and 2004, respectively. The IRS audited the business and partially disallowed the deductions for compensation.
May 24, 2016
Congress Needs to Modernize the FTC
There is an opportunity for Congress to modernize the agency so that it better protects consumers from harm while minimizing regulatory costs and better enabling robust innovation in the U.S. economy.
May 24, 2016
Old Labor Laws Not Keeping Up With Gig Economy, Decrease Worker Benefits
The traditional distinction between employees and independent contractors is discouraging companies from offering gig economy workers important support, particularly when it comes to taxes. That'd according to Joseph Kennedy, senior fellow at the ...
May 23, 2016
Chain Restaurant Group Calls New Overtime Regs “Outrageous”
As a result of the Labor Department's new overtime rules, management positions in restaurants will disappear, limiting career advancement and hurting restaurant employees and owners, according to the National Council of Chain Restaurants.