December 3, 2015
How To Dodge A Tax Hit When Selling a Rental Property
All types of commercial properties can be considered “like-kind,” including apartment buildings, vacant land, farmland, office buildings and warehouses among other properties.
December 3, 2015
5 Ways to Differentiate Your Firm From The Pack This Tax Season
In differentiating your firm, you can speak in greater detail about the focused services you offer and the value of those solutions to clients. Furthermore, you no longer have to communicate to the masses, but rather can directly target to the ...
December 2, 2015
5 Income Tax Deduction Tips for Donations to Charity
Donors must get a written acknowledgement from the charity for all gifts worth $250 or more. It must include, among other things, a description of the items contributed.
November 30, 2015
Report Says Enforcing Payment Card Reporting Could Narrow Tax Gap
The IRS received 2,933 Forms 1099-K with gross transactions totaling $543.9 million for which the payee TIN was that of a deceased individual. TIGTA identified that the TIN Matching Program, used by payers to verify a payee TIN, does not alert the ...
November 30, 2015
5 Tips to Avoid Identity Theft During the Holidays
Statistics show approximately 15 million Americans have their identities used fraudulently each year, with financial losses totaling upwards of $50 billion.
November 30, 2015
National Accounting Group Offers Year-End Tax Tips
As your time runs out, the National Society of Accountants (NSA) also offers this list of tax changes and strategies, courtesy of Wolters Kluwer.
November 29, 2015
Stopping Taxpayer ID Theft: The IRS Means Business
The three main partners in the program – the IRS, the states and other tax industry sources –will also be releasing additional YouTube videos highlighting these tips as the tax filing season approaches. The first video in the series is now available ...
November 24, 2015
Year-End Payroll Reporting: State-by-State Due Dates for Form W-2
The skies are cloudy, the leaves are changing, the air is cool and brisk—and in this profession, that means time to think about year-end prep for payroll departments.
November 23, 2015
IRS Updates FATCA Registration Website
The Foreign Account Tax Compliance Act (FATCA) Online Registration System is a secure, web-based system that financial institutions and other entities can use to register for FATCA purposes. Launched in 2013, the system allows the IRS to identify ...
November 22, 2015
Jock Tax Overturned, Supreme Court Denies Appeal
The tax rationale may be applied to entertainers who perform at local venues and even to high-ranking executives in town to conduct business. Currently, seven cities impose a jock tax.
November 19, 2015
IRS Advisory Council Releases Annual Report and Recommendations
Based on its report findings and discussions over the last year, the IRSAC made several recommendations on a broad range of issues and concerns.
November 18, 2015
The Ultimate Year -End Guide to Payroll Compliance and Benefits
With this guide, we hope to help you navigate the ins and outs of getting your compliance and benefits ready for end of year.