Small Business June 26, 2026
Tax Court Doesn’t Horse Around in New Hobby Loss Case
After examining all the evidence, the Tax Court ruled that the activity doesn’t rise to the level of a business. Result: All the loss deductions are denied.
September 18, 2013
Swiss Banks to Turn Over Info on U.S. Accounts
The Tax Division of the U.S. Department of Justice has announced an agreement with Switzerland that would permit all but a few Swiss banks to avoid criminal prosecution by paying substantial fines and turning over information on accounts held by American clients.
September 18, 2013
California Businesses and Workers Split on Minimum Wage Increase
As a father of three earning $8 an hour, Bakersfield resident Adula Harris may well benefit if Gov. Jerry Brown signs a bill that would raise California's minimum hourly wage to $9 in July and then to $10 in January 2016.
September 18, 2013
Thomson Reuters Launches New Online Marketplace for Tax & Accounting Pros
The Tax & Accounting business of Thomson Reuters has launched an enhanced online marketplace at Tax.ThomsonReuters.com/Store. It is designed to help tax and accounting practitioners and corporate tax professionals more easily find and purchase the products they need, access news and insightful articles, join online communities of their peers, and more.
September 17, 2013
IRS gives tax relief to businesses and individuals affected by Colorado flooding
The Internal Revenue Service is providing tax relief to individual and business taxpayers impacted by severe storms, flooding, landslides and mudslides in Colorado.
September 16, 2013
Despite Threat of Fraud, Most SMB Owners Fail on Security
National Survey Shows Small Businesses Show Less Concern Until They Become Victims Themselves
September 16, 2013
IRS Tax Gap Estimate Has Room for Improvement
The Internal Revenue Service estimate of the Tax Gap, the difference between taxes owed and taxes paid voluntarily and on time, could be more comprehensive, accurate, reliable and timely, according to a new report released publicly today by the Treasury Inspector General for Tax Administration.
September 14, 2013
Nonprofits & the IRS: 5 Risk Areas to Watch For
As the Internal Revenue Service Exempt Organization division twists and turns in the wind over the recent scandal involving undue scrutiny on certain tax-exempt applications, nonprofit managers and practitioners might wonder how this will impact them.
September 13, 2013
Attempt to Override Veto of Missouri Tax & Gun Laws Fails
Gov. Jay Nixon scored two key victories as the Republican-controlled Legislature failed to override his vetoes of legislation that aimed to cut income taxes and nullify federal gun laws Wednesday.
September 12, 2013
Poll Finds that Financial Fraud is Widespread in U.S.
Financial fraud is widespread in America, with more than four of five people in a new poll saying they've been targeted by scammers in one form or another.
September 12, 2013
Calif. Man Convicted of Embezzling $550K from Payroll Service
A 35-year-old Watsonville, California man was convicted of felony embezzlement Tuesday after he skimmed money from two San Jose companies and left them delinquent on their taxes.
September 12, 2013
California Governor Backs Raise in Minimum Wage to $10/hr
California Governor Gerry Brown Jr. joined with top leadership in the state's legislature on Wednesday to announce their support for a new bill that would raise the state's minimum wage.
September 12, 2013
Solution Helps Employers Meet Shared Responsibility Requirements of ObamaCare
Employers with 50 or more full-time equivalent employees on their payroll during the previous calendar year have a "shared responsibility" under the Affordable Care Act (aka, ObamaCare) to offer minimum essential coverage to their full-time employees.