Taxes

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June 15, 2014 

Tax Analysts Sues California to Release Documents

A tax news source has sued California's Franchise Tax Board for refusing to disclose the documents it uses to decide whether to combine the incomes of two related companies and how to calculate their taxes.

 Tax Evasion Defense: Resident of Heaven

June 15, 2014 

Tax Evasion Defense: Resident of Heaven

A Twin Cities woman has pleaded guilty to dodging income taxes for many years in connection with her family excavation and sewage treatment business, when she claimed she and her husband were not U.S. citizens but permanent residents of the "Kingdom of Heaven."

 How Employers and Accounting Firms Can Navigate Obamacare Penalties

June 13, 2014 

How Employers and Accounting Firms Can Navigate Obamacare Penalties

Thomson Reuters has released a special report for employers, accounting firms, and other professionals who advise business clients, Get Ready to Play or Pay: Employer Shared Responsibility Under Health Care Reform. The report highlights key provisions employers must understand to avoid tax penalties related to the Affordable Care Act.

Isaac M. O'Bannon

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June 12, 2014 

Tips for Businesses to Avoid Committing Fraud

The School of Graduate and Professional Studies at New England College has but together an infographic that offers an easy go-to guide for businesses on what’s legal and what’s illegal when it comes to managing their business through the year and when preparing for their taxes.

Isaac M. O'Bannon

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June 12, 2014 

How to Determine Reasonable S-Corp Shareholder Compensation

Income from an S corporation, which flows through to its shareholders and is taxed at the individual level, is normally not subject to self-employment tax. Most S corporations, however, have shareholders performing substantial services for the corporation as officers and otherwise.

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June 11, 2014 

2014 Review of Sales Tax Systems for Small Businesses

Sales and use tax is a key source of government funding in most states. Unlike property tax and state income tax, however, the legislators and regulators have adopted a patchwork of different rules which affect the taxability of the items. In addition to dealing with statewide tax rates in 45 states, 38 states levy sales…

Brian Tankersley

 IRS Commissioner to Keynote National Society of Accountants Meeting

June 10, 2014 

IRS Commissioner to Keynote National Society of Accountants Meeting

The National Society of Accountants has announced that Internal Revenue Service Commissioner John Koskinen will deliver the keynote address at the organization's 69th Annual Meeting, which will be August 20-23, 2014 at the Hyatt Regency Inner Harbor in Baltimore, Maryland.