Income Tax

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April 5, 2016 

Tax Pros Focus on BBQ During Tax Season

Though finance industry professionals tend to order salads and lighter Mediterranean food throughout the year, all that goes out the window during busy season. Barbecue, which makes up only 3% of total orders throughout the year, is ordered twice as ...

 How Employee Dishonesty Bonds Can Save A Small Business

April 5, 2016 

How Employee Dishonesty Bonds Can Save A Small Business

Also known as commercial crime bonds, it can be difficult to grasp their importance for the smooth operation of business. They are a type of fidelity surety bond that protects your business from dishonesty, fraud, theft, forgery and embezzlement that ...

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March 31, 2016 

Cloud System Simplifies Form 8621 PFIC Compliance

A new online tool from Expat Tax Tools is aimed at simplifying Form 8621: Information Return by a Shareholder of a Passive Foreign Investment Company or Qualifying Electing Fund. The cloud-based Form 8621 Calculator is designed for smaller companies ...

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March 30, 2016 

Don’t Even Try These Income Tax Deductions

Pets were a recurring theme: “I had a client this year tell me his last preparer let him write off the cost of his pet care on Schedule C because he took his dog to work with him every day, so it was considered a work-related expense."

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March 30, 2016 

73% of U.S. Companies Report Payment Fraud Attempts in 2015

BEC scams, short for business email compromise, are an increasingly common type of fraud which greatly impacts wire fraud. In 2015, 64 percent of organizations were exposed to BEC scams. Though checks continue to be the payment method most targeted by ...

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March 25, 2016 

Congress Approves Taxpayer Bill of Rights

With considerably less fanfare than the Bill of Rights ratified as the first amendments to the U.S. Constitution, the 114th Congress quietly approved the “Taxpayer Bill of Rights” as part of the Protecting Americans from Tax Hikes (PATH) Act of 2015.

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March 24, 2016 

Exotic Dancer Found Guilty of “Tax Seduction”

This wasn’t just a case of dollar bills being tucked into a G-string. A jury determined that the dancer failed to report close to $1 million -- $850,000, to be exact -- in taxable income from performing private dances and sexual favors during the ...

 More Americans Saving Income Tax Refunds

March 22, 2016 

More Americans Saving Income Tax Refunds

Consumers know just what they want to do with their refunds this year: In addition to savings, 34.9 percent plan to pay down debt and 22.4 percent will use the refunds for everyday expenses. While 11.4 percent plan to book a vacation, 9.2 percent plan to