April 1, 2015
Don’t forget to include medical expenses the client pays on behalf of a relative such as an elderly parent in a nursing home or a child who graduated from college last year. Little-known fact: It may be possible to add qualified expenses paid for a ...
March 31, 2015
The American Institute of Certified Public Accountants has sent a letter to the Senate Finance Committee Tax Reform Working Group on Business Income Tax that makes suggestions about how to simplify business income tax.
March 30, 2015
According to the Q1 2015 Spark Business Barometer from Capital One, 55 percent of small business owners are very confident they are taking advantage of small business tax deductions, but what about the other 45 percent?
March 30, 2015
Tax season can be a scary time for many taxpayers, but it's mostly because of a lack of knowledge. It's a fear of the unknown: Will they owe taxes, will the IRS come after their business, etc.
March 30, 2015
An employee’s company may be glad to pick up the tab on a weekend trip home if you’re staying in a place where the cost of lodging and meals is high. The trip home might cost less than the expense of putting you up in a pricey hotel.
March 30, 2015
The nation's largest society of professional accountants is telling Congress that tax reform isn't just something to think about, it's something needed soon.
March 27, 2015
Do you have clients who are dedicated to working on behalf of a charity? Although they may go out of their way to support their favorite cause, they may not be getting a tax deduction for the blood, sweat and tears they expend.
March 27, 2015
Accountants and CPAs are in the middle of the industry’s hottest season, and staying above the stress in a time of relative chaos can be a challenge to say the least. Long hours, looming deadlines and mountains of data can drive people to the edge ...
March 27, 2015
The release of New York State Corporation Income Taxes After 2014 coincides with the 2015 effective date of the state’s comprehensive overhaul of its corporate income tax.
March 25, 2015
As you’re working through federal income tax returns of clients during the home stretch, you hold a veritable ace up your sleeve: the IRA contribution. For clients who qualify, a contribution made by the tax return due date – April 15, 2015 for ...
March 23, 2015
Taxpayers still have time to decrease their 2014 taxes by contributing to an IRA. In most cases, doing so can help them qualify for a deduction or even a tax credit.
March 23, 2015
Special tax rules apply to military members on active duty and in the reserves, particularly those serving in combat zones. These can help lower federal taxes and make it easier to file tax returns.