May 22, 2014
London Tops List of Best Cities of Opportunity, New York Comes in Second
Competition for talent, capital and economic clout drives cities to build and maintain resilient urban communities.
May 22, 2014
Florida Sees Gain of 34,000 Jobs in April
Unemployment in the Tampa Bay region fell below 6 percent last month, as the state added 34,000 jobs in April, matching a national improvement in jobs.
May 21, 2014
Ohio Society of CPAs Supports Federal Financial Statement Transparancy Act
The Ohio Society of CPAs (OSCPA) is commending Representative Jim Renacci (R-Ohio), a CPA, for his introduction of the Federal Financial Statement Transparency Act of 2014 in the U.S. House of Representatives, a bill with bipartisan support that will make for a more accountable and transparent federal government.
May 21, 2014
IRS Names New Members of Tax Exempt Advisory Committee
The Internal Revenue Service has announced that its Advisory Committee on Tax Exempt and Government Entities (ACT) will hold a public meeting on June 11, when the panel will submit its annual reports and recommendations to senior IRS executives. Ten newly appointed members of the panel (listed below) will also be introduced at the public…
May 21, 2014
AICPA Says IRS Voluntary Preparer Regulation System Doesn’t Protect Taxpayers
The nation's largest professional association for accounting professionals, the American Institute of CPAs (AICPA), has come out opposed to the new voluntary tax return preparer regulation program that the Internal Revenue Service (IRS) is planning.
May 19, 2014
Summertime Tax Tip #5: Hot Dog! Get a Tax Break for Having a Company Picnic
Summer is the time for grilling burgers and hot dogs, escaping to the beach or woods or just relaxing and enjoying the warm weather. Of course, there’s nothing to prevent you from mixing in a little business with the pleasure. If your clients handle things the right way, and keep detailed records, they can write…
May 18, 2014
Florida Creates Sales Tax Holiday for Hurricane Supplies
Florida Governor Rick Scott has signed a state law that establishes a sales tax holiday for purchases of a hurricane supplies such as batteries, tarps and portable generators.
May 13, 2014
Summertime Tax Tip #3: Tax Credits for Summer Camp
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 13, 2014
What are the Tax Implications of ObamaCare?
Most people have heard the endless political arguments about the Affordable Care Act, aka ObamaCare, but many still don't really know the full extent of what the law is. The Affordable Care Act was enacted by Congress and signed into law by President Obama in 2010, becoming the biggest healthcare reform measure since the implementation…
May 13, 2014
Bitcoin Users: IRS Throws Monkey Wrench Into the Works
After several years of head-scratching, the IRS has finally offered guidance on the tax treatment for virtual currencies like Bitcoin (IRS Notice 2014-21). In brief, taxpayers have been advised to treat Bitcoin as property for U.S. tax purposes. But accountants, particularly those with small business clients, are still struggling to get a better handle on…
May 12, 2014
California Small Business Owners Expect Growth
Eighty-six percent of California small business operators believe their businesses are moving in the right direction, and 87 percent expect growth in 2014, according to the third annual small business survey by San Diego-based California Bank & Trust.
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.