Taxes February 12, 2026
Senate Votes to Overturn D.C. Tax Decoupling, as Locals Push Back
The Senate passed a joint resolution on Thursday blocking changes to the District of Columbia’s tax code, which will now head to President Donald Trump’s desk.
October 26, 2014
The End of the Year is Near: Take Your Required Minimum Distributions or Face Big Penalties
Should retirees take money out of their qualified retirement plans like 401(k)s and IRAs to help pay for their living expenses? Most retirement-savers in their 70s or older have little choice: Under the federal tax law, they are mandated to make ...
October 23, 2014
How the Net Investment Income Tax Can Bite Your Clients, and How to Get Them Prepared
If there is one thing that all CPAs can agree upon, it is that the 2014 tax return filing season was one of the most strenuous that any practitioner has seen in their career. Between rate increases, the imposition of new taxes, and the reinstatement of th
October 21, 2014
Salaries on the Rise for Accounting Professionals
To handle new business, public accounting firms are looking to add to their workforce. Many still need to fill positions left vacant during the downturn and take some of the burden off their current teams.
October 21, 2014
The Tax Benefits of Adopting a Child
Taxpayers who adopt a child do more than open their hearts – they also open their opportunities to take advantage of tax credits.
October 20, 2014
2014 Tax Planning Report Highlights Opportunities and Challenges for Tax Professionals
Thomson Reuters has released a new special report on year-end tax planning for 2014 for individuals and businesses. The report highlights the unique opportunities and challenges faced by taxpayers in today’s uncertain legislative environment. It describes the moves to make by year-end to achieve maximum overall tax savings for 2014 and later tax years. It...…
October 20, 2014
10 Year-End Income Tax Tips for 2014
Year-end Tax Guide for 2014 highlights the most important tax planning considerations for individuals and small businesses.
October 20, 2014
AICPA Asks IRS for Clarification on S Corp Distributions
The American Institute of CPAs (AICPA) sent a letter to the Internal Revenue Service (IRS) explaining that an ambiguity exists under current rules for determining adjustments to the accumulated adjustment account (AAA) of an S corporation when both ...
October 16, 2014
How to Max Out On Itemized Income Tax Deductions in 2014
[This is part of a special series about year-end tax planning and preparation.] In the usual case, the tried-and-true tax strategy at the end of the year is to pull deductions into the current year and push income into the following year. And, for the most part, it still makes sense. But now there’s a few...…
October 15, 2014
‘Tis the Season… For Income Tax Planning
While most Americans are thinking about football season, the MLB baseball playoffs, the coming NBA season, hockey or the upcoming holidays, savvy financial professionals are advising taxpayers to think about their taxes.
October 14, 2014
How to Avoid or Even Take Advantage of the Alternative Minimum Tax (AMT)
[This is part of a special series of articles designed to maximize tax benefits and minimize tax pitfalls at the end of the year.] The alternative minimum tax (AMT) is often referred to as a “stealth tax” because it sneaks up on unsuspecting taxpayers. But you’re not doing your job well if your clients are caught...…
October 12, 2014
IRS to Shut Down Some Services before Oct. 15 Tax Extension Deadline
The Internal Revenue Service has announced that a planned power outage will cause some services to be unavailable this weekend (Oct. 11-14), which may affect some of the million-plus tax filers, and their tax professionals, who file extended personal inco
October 10, 2014
What’s New in Payroll Law?
Keeping up-to-date on changes and proposed changes can be overwhelming, especially if you have a business to run that doesn’t involve payroll. That’s why, as a payroll practitioner, it’s important that you help your clients understand any new changes and what they mean for their business. In 2015, there will be several changes that can...…