May 12, 2014
Looking Back at TY 2013 and a Look at What Lies Ahead
Intuit takes a look back at Tax Year 2013 and projects what changes lie ahead for the tax profession and its products.
May 11, 2014
R.I. Senate Considers Cutting Corporate Tax Rate
The state Senate will take up discussion of a multi-part bill that would change the way the state taxes corporations.
May 11, 2014
Summertime Tax Tip #2: Pocket Key Tax Breaks for Vacation Home Rentals
If a client owns a “vacation home” in a resort area – say, a seaside cottage or a mountaintop cabin – the family may enjoy getaways there during the summer months. But when the kids grow up and the trip becomes a hassle, the place may lie dormant for much of the season. It could…
May 8, 2014
Small Business Week: IRS Spotlights Healthcare Tax, Home Office Deduction
The IRS will be holding two free webinars for small businesses and encouraging them to check out several key tax benefits and a special relief program for employers who reclassify their workers as employees.
May 7, 2014
Charitable Giving to Nonprofits Drops
A quarterly report on the amount that Americans donate to nonprofits shows a decrease in the first quarter of the year, following several months in which the giving rate had seen increases.
May 5, 2014
Report Shows Odds of Facing an IRS Audit for Individuals, Businesses
Although the actual risk is very low that most Americans will face an IRS audit of their taxes, the fear of that potential is a strong factor that keeps most taxpayers on the level, according to a new report from WalletHub, a financial management and information website for consumers.
May 4, 2014
Small Tax-Exempt Groups Reminded to File Form 990-N
Reminder for small tax-exempt organizations to file IRS Form 990-N annually to stay in compliance.
May 4, 2014
Is An MBA Degree Tax Deductible? It Depends
Suppose one of your clients has his or her sights set on obtaining an MBA or another advanced degree. Usually, it takes significant time and effort to achieve this goal, especially if the degree candidate is currently working on a full-time or part-time basis. But earning the degree could be well worth the “blood, sweat…
May 4, 2014
Summertime Tax Tip #1: Mix In A Little Pleasure on Business Trips
Due to recent advances in technology, you can now talk face to face with someone halfway across the country without even budging from your desk. Yet it’s still important at times for business people to “press the flesh” or meet in person with an associate to conduct meetings or consummate a deal. At least, a…
May 1, 2014
AICPA Opposes Legislation That Would Limit Cash Accounting Methods
In a letter to House Ways and Means Committee Chairman Dave Camp, the American Institute of CPAs (AICPA) has voiced strong opposition to draft legislation that would limit the use of the cash method of accounting for pass-through entities and personal service corporations.
April 30, 2014
Xero Partners with H&R Block for Small Business Accounting
Online accounting software maker Xero has partnered with H&R Block, Inc. to offer the Xero system as the core small business online accounting platform in H&R Block's Small Business Program suite of services.
April 28, 2014
Proposed Illinois Soda Tax Losing Its Fizz
Two bills introduced in February call to impose a 1-cent-per-ounce excise tax on sugar-sweetened beverages. For a 12-ounce can of soda, the tax would add 12 more cents. The price of a twelve-pack would increase by $1.44 and another $2.88 would be added to the cost of a 24-pack.