Income Tax

May 11, 2014 

If a client owns a “vacation home” in a resort area – say, a seaside cottage or a mountaintop cabin – the family may enjoy getaways there during the summer months. But when the kids grow up and the trip becomes a hassle, the place may lie dormant for much of the season. It could…

May 8, 2014 

The IRS will be holding two free webinars for small businesses and encouraging them to check out several key tax benefits and a special relief program for employers who reclassify their workers as employees.

Isaac M. O'Bannon

May 7, 2014 

A quarterly report on the amount that Americans donate to nonprofits shows a decrease in the first quarter of the year, following several months in which the giving rate had seen increases.

May 5, 2014 

Although the actual risk is very low that most Americans will face an IRS audit of their taxes, the fear of that potential is a strong factor that keeps most taxpayers on the level, according to a new report from WalletHub, a financial management and information website for consumers.

May 4, 2014 

Reminder for small tax-exempt organizations to file IRS Form 990-N annually to stay in compliance.

May 4, 2014 

Suppose one of your clients has his or her sights set on obtaining an MBA or another advanced degree. Usually, it takes significant time and effort to achieve this goal, especially if the degree candidate is currently working on a full-time or part-time basis. But earning the degree could be well worth the “blood, sweat…

Ken Berry, JD

May 4, 2014 

Due to recent advances in technology, you can now talk face to face with someone halfway across the country without even budging from your desk. Yet it’s still important at times for business people to “press the flesh” or meet in person with an associate to conduct meetings or consummate a deal. At least, a…

Ken Berry, JD

May 1, 2014 

In a letter to House Ways and Means Committee Chairman Dave Camp, the American Institute of CPAs (AICPA) has voiced strong opposition to draft legislation that would limit the use of the cash method of accounting for pass-through entities and personal service corporations.

April 30, 2014 

Online accounting software maker Xero has partnered with H&R Block, Inc. to offer the Xero system as the core small business online accounting platform in H&R Block's Small Business Program suite of services.

April 28, 2014 

Two bills introduced in February call to impose a 1-cent-per-ounce excise tax on sugar-sweetened beverages. For a 12-ounce can of soda, the tax would add 12 more cents. The price of a twelve-pack would increase by $1.44 and another $2.88 would be added to the cost of a 24-pack.

April 27, 2014 

Now that this year’s tax filing season for individuals is over, it’s time to concentrate on saving taxes in 2014. All too often, professional tax advisors don’t reach out to their clients until the very end of the year when it might be too late for them to implement meaningful tax planning strategies. Break up…

April 27, 2014 

Traditionally, tax planning is targeted to individual taxpayers, but small business owners can also benefit from such tax-saving techniques. Instead of waiting until the very end of the year to pitch ideas to clients, present them with the following ten strategies at midyear.