Income Tax

March 24, 2016 

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 

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 

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 

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.

March 17, 2016 

The latest variation being seen in the last few weeks tries to play off the current tax season. Scam artists call saying they have your tax return, and they just need to verify a few details to process your return. The scam tries to get you to give up ...

March 17, 2016 

Preparing to file taxes can sometimes be a year-round job, even for small businesses. It may involve different responsibilities, including estimating tax payments, planning to buy or lease capital equipment, developing retirement-saving strategies, etc.

March 16, 2016 

Tax accountants have always been the white knights. Auditors were viewed by clients as necessary, consultants the fascinating innovators, but tax accountants were there to save the day.

Gail Perry

March 15, 2016 

In cases where a tax return was not filed, the tax law provides most taxpayers with a three-year window of opportunity for claiming a refund. However, if no return is fled in time, the money becomes the property of Uncle Sam. For 2012 tax returns, the ...

March 14, 2016 

Can’t file your tax return by the April 18 deadline? Taxpayers can request an automatic six-month extension of time to file the return, but what many don’t know can cost them.

March 14, 2016 

The Internal Revenue Service says that federal income tax refunds totaling $950 million are waiting for an estimated one million taxpayers who did not file a federal income tax return for 2012. To collect the money, these taxpayers must file a ...

March 13, 2016 

Essentially, employers now have until June 29, 2016 to get all their ducks in a row. The new Notice also explains the rules for a new target group.

March 4, 2016 

With public accounting firms facing increased competition for skilled staff, it’s more important than ever that companies take a strategic approach to recruiting and hiring. Above-average compensation packages can go a long way in helping your ...

Paul McDonald