May 13, 2014
The Earned Income Tax Credit (EITC) is one of the most widely-used credits by U.S. taxpayers, it's also often mis-used and even thought the Internal Revenue Service has been scolded for its poor management of the EITC, the agency is still lacking.
May 13, 2014
Are your clients making plans to send their kids off to camp this summer? Depending on the arrangements, they may be entitled to claim a healthy tax credit – the dependent care credit (also known as the “child care credit” ) – for the daily expenses. However, there are no tax benefits available for overnight…
May 12, 2014
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
The state Senate will take up discussion of a multi-part bill that would change the way the state taxes corporations.
May 11, 2014
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
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
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
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
Reminder for small tax-exempt organizations to file IRS Form 990-N annually to stay in compliance.
May 4, 2014
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
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
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.