Income Tax
Latest News
SafeSend Launches New AI-Powered Tools for Tax and Accounting Professionals
How AI Can Help Firm Partners Be Better Growth Builders
AICPA Offers Comments to IRS on Domestic Content Bonus Credit Requirements
CBIZ Reaches Deal to Acquire Fellow Top 15 Firm Marcum
![back-2-school-shopping-600x1](https://www.cpapracticeadvisor.com/wp-content/uploads/sites/2/2022/07/22649/back-2-school-shopping-600x1_11659475.png)
Back to School Tax Tips for 2016
As the final weeks of summer tick away, back-to-school sales are ramping up and it's time to think about getting those kids back in the classroom. It's also a good time to think about a variety of tax breaks and deductions available for qualifying ...
![daycare reno 2 1 577fc94f643e5](https://www.cpapracticeadvisor.com/wp-content/uploads/sites/2/2022/07/22379/daycare_reno_2_1_.577fc94f643e5.png)
Dependent Care Assistance Plans: A Fringe Benefit With Tax Benefits
To help ease the burden of hard-working parents, employers may institute a dependent care assistance plan for employees. Under such a plan, payments made to third parties like babysitters and day care centers are excluded from income if the costs ...
![Tax deductions 1 54c15bb4d981a](https://www.cpapracticeadvisor.com/wp-content/uploads/sites/2/2022/07/17830/Tax_deductions_1_.54c15bb4d981a-768x522.png)
Casualty Loss Deduction Collapses in Tax Court
Suppose that your personal residence is substantially damaged and will cost you tens of thousands of dollars to fix. Is the repair cost deductible on your tax return as a casualty loss? It doesn’t always seem fair, but it depends on whether the ...
Unmarried Homeowners Get Double Tax Deduction
Normally, you can deduct the full amount of mortgage interest you’re required to pay on your principal residence and one other home such as a vacation home. But sometimes you might bump up against these two tax law limits, especially if you’re a ...
2016 Fringe Benefits Tax Series #14: Retirement Planning Services
A provision for retirement planning services was added to the tax code back in 2001. As long as certain requirements are met, these benefits of such a program, which are usually reasonable in cost, are tax-free to employees and deductible by the ...
![s377871770497605170 p5 i1 w640 1 5797953963c50](https://www.cpapracticeadvisor.com/wp-content/uploads/sites/2/2022/07/22586/s377871770497605170_p5_i1_w640_1_.5797953963c50.png)
Sage Foundation Donates $50,000 to Chicago High School Girls Organization
The grant was presented by Sage Chief People Officer, Sandra Campopiano to Director of Business and Corporate Relations at Brave Initiatives, Jen Kamins, in front of an audience of nearly 15,000 at McCormick Place. Speaking after presenting the check, ...
Back to School Tax Tips
As the final weeks of summer tick away, back-to-school sales are ramping up and it's time to think about getting those kids back in the classroom. It's also a good time to think about a variety of tax breaks and deductions available for qualifying ...
![renaissance room 1 57962dfa0d3a1](https://www.cpapracticeadvisor.com/wp-content/uploads/sites/2/2022/07/22536/renaissance_room_1_.57962dfa0d3a1-768x512.png)
2016 Fringe Benefits Tax Series #13: Lodging for Business Purposes
Generally, the IRS says that the value of lodging furnished to an employee may be excluded from taxable wages only if it meets the following three conditions. (Different tests may apply to lodging furnished by educational institutions.)