Income Tax

So, what's the earliest a person can get their tax refund back? With all the talk about tax reform, many taxpayers are eager to get their refunds this year. Will it be higher or lower?

Effective for 2018 through 2025, the TCJA completely eliminates the Schedule A deduction for miscellaneous expenses. This change can be especially harmful to employees who pay job-related expenses out of their own pocket.

Previously, a business taxpayer could deduct 50% of the cost of qualified entertainment expenses, if those expenses were properly substantiated. This included entertainment that was “directly-related” to or “associated with” the business.

All medical marijuana growers and dispensaries have very specific accounting requirements and are need of qualified Accountants and Bookkeepers to help them stay compliant as well as stay on top of their cash flow, inventory management, and ...

Accountant Cindy Laporta testified that Gates had sent her backdated documents to reduce Manafort’s tax liability in support of the existence of such loans. In one instance, Laporta says that Manafort leaned on her to help when his bookkeeper wouldn’t.

The Protecting Taxpayers Act (S.3278) would "amend the Internal Revenue Code of 1986 to provide additional protections to taxpayers," according to the official description. The bill was referred to the Senate Finance Committee. The bill is still a ...

The Internal Revenue Service has released a prototype of the new Form 1040 that hundreds of millions of Americans use to file their annual taxes. The new "postcard sized" form will be used for the 2018 income tax year, which most Americans will file ...

Many firms have a bonus structure in place to financially reward employees, but that’s not enough. More than a nice gesture, going above and beyond — much as your workers have done since at least January — when showing appreciation is a must to keep ...