Income Tax

Leaders from the Internal Revenue Service, state tax agencies and tax preparation community are warning tax preparers that they increasingly are targets of cybercriminals and should take appropriate steps to protect clients from data theft.

If some of your employees are looking to go back to school, or to enroll in college courses for the first time, you might decide to lend a helping hand. An employer can set up a program that effectively pays for all or most of the costs on a tax-free ...

Does your business provide meals to its employees in your own cafeteria or by other means? Generally, the cost of this fringe benefit is deductible by the business and tax-free to the employees, but only as long as certain tax law requirements are met.

The statutory requirements for on-site athletic facilities are precise. If you operate a gym or similar facility on the business premises, the value of the benefit is exempt from tax and deductible by the company as long as substantially all use at ...

Taxpayers who adopt children may be in line for special tax breaks. Significantly, you can claim a generous tax credit for qualified adoption expenses you’ve incurred, subject to a reduction based on your modified gross income (AGI). But high-income ...

If morale in your workplace has hit rock-bottom, you can boost spirits – and hopefully productivity – by establishing a program of employee achievement awards. As long as certain requirements are met, the awards are tax-free to employees and ...

If the employer doesn’t provide a cell phone, but instead initiates a reimbursement arrangement for an employee’s personal cell phone that is used for business, the IRS may treat it as a noncompensatory business purpose.

From credits for electric vehicles, to education deductions and employer credits, there are many changes in 2016. So make sure you and your clients keep up-to-date on these tax breaks.