Income Taxes

Featured Articles

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September 16, 2015 

Projected 2016 Tax Rates and Brackets – Tax Penalties To Rise

People whose income is the same compared to last year may enjoy a lower effective tax rate while taxpayers that fail to comply with return filing and tax payment requirements will face larger penalties in 2016 because of a combination of legislative ...

 Three Daunting Statistics About Bill Pay and Fraud

September 15, 2015 

Three Daunting Statistics About Bill Pay and Fraud

Paper checks are dangerous. They represent a serious fraud risk. Does this risk worry you? According to a survey of 540 accountants and bookkeeping professionals, the answer is probably yes.

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September 14, 2015 

IRS Interest Rates to Stay the Same for Q4 2015

Under the Internal Revenue Code, the rate of interest is determined on a quarterly basis. For taxpayers other than corporations, the overpayment and underpayment rate is the federal short-term rate plus 3 percentage points.

 2015 Review of Thomson Reuters Tax Planner CS

September 10, 2015 

2015 Review of Thomson Reuters Tax Planner CS

Planner CS is part of the CS Professional Suite of tax products from Thomson Reuters. Part of the CS Professional Suite of tax, accounting and practice management applications. Planner CS offers full integration with other Thomson Reuters while also ...

Mary Girsch-Bock

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September 10, 2015 

2015 Review of CCH ProSystem fx Planning

ProSystem fx Planning is part of the ProSystem fx Suite of products from CCH. ProSystem fx Planning integrates with other CCH tax products. ProSystem fx Planning can also be used as a stand-alone product. While not currently available as an online ...

Mary Girsch-Bock

 2015 Review of BNA Income Tax Planner

September 10, 2015 

2015 Review of BNA Income Tax Planner

BNA’s Tax Planner is available as either a desktop product or as web-based software, which is hosted by Bloomberg BNA. BNA’s user interface has a menu bar at the top of the screen that offers access to various program functions.

Mary Girsch-Bock

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September 10, 2015 

2015 Review of Drake Tax Planner

Drake Tax Planner is a good fit for firms that have less complicated tax planning needs. Designed for both individuals who wish to map out their own tax plan, as well as firms providing tax planning services, the product offers straightforward tax ...

Mary Girsch-Bock

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September 9, 2015 

Case Shows When a Taxpayer Can’t Use Home Sale Tax Exclusion

Assuming the client meets all the requirements of Section 121 and the gain doesn’t exceed the allowable limits, the federal income tax bill is zero. Right? Not always. As a new case handed down by the Eighth Circuit Court illustrates, a taxpayer may ...

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September 8, 2015 

Accounting Salaries To Rise 4.7% in 2016

Among the five fields tracked, the technology sector is projected to see the greatest pay gains, with base salaries rising an average of 5.3 percent. Accounting and finance roles followed, with anticipated average compensation increases of 4.7 percent.