Income Tax

January 31, 2016 

Here’s one tax break that can extend as far as the eye can see: If a real estate owner donates a qualified conservation easement to charity, he or she can claim a deduction based on the value of the easement. In other words, the taxpayer realizes a ...

January 29, 2016 

Many taxpayers are eager to know precisely when their money will be arriving, but checking "Where's My Refund" more than once a day will not produce new information. The status of refunds is refreshed only once a day, generally overnight.

January 26, 2016 

Consumer awareness of identity theft and tax-related fraud is on the rise this year, and along with it increased concerns over becoming a victim. Experian recently surveyed consumers nationwide for its annual tax study, focusing on a number of ...

January 25, 2016 

Are any of your small business clients in need of a cash influx? Thanks to the new tax law -- the Protecting Americans from Tax Hikes (PATH) Act – small business owners can offer a unique tax incentive to investors: A 100 percent tax exclusion on the ...

January 24, 2016 

As tax professionals, we all have stories to tell about the dubious items our clients want to “write off” on their tax returns ─ and after many years of hearing the same questions, many of our answers are quite well-rehearsed.

January 24, 2016 

The tax relief postpones various tax filing and payment deadlines that occurred starting on Dec. 23, 2015. As a result, affected individuals and businesses will have until May 16, 2016 to file their returns and pay any taxes due.

January 20, 2016 

How many returns can your firm prepare during tax season? Adding staff hours during busy season is problematic for the firm and filing extensions is problematic for customers. In the absence of these two options, what else can you do?

January 20, 2016 

Although the PATH Act doesn’t include the numerous proposals to change how the RTC is calculated or increase its credit rate, it does expand its availability to two kinds of small businesses.

January 20, 2016 

Asking the right questions can make a big difference when hiring a tax preparer. It helps ensure that you are getting a qualified professional who knows the tax code and will act ethically and responsibly in filing your tax return.

January 19, 2016 

The deduction is available for more than just art supplies, videos and the like. The definition of “qualified expenses” also encompasses other supplies, books, computer equipment (including related software and services), other equipment and ...

January 19, 2016 

The figure that is likely to grab your attention is 52 percent. That is the top tax bracket proposed by Sanders, a plateau that hasn’t been reached since a watershed 70 percent rate was scaled back in the 1980s. The top tax bracket peaked at 91 percent...

January 16, 2016 

The Intuit ACA Resource Center, a part of the Intuit Tax Pro Center, includes easy-to-use guides and tools designed to make it easy for tax professionals to stay updated on changes in ACA compliance and requirements for reporting client health ...