Income Tax

As 2015 draws to a close, a turbulent economic and legislative environment means taxpayers need to keep a close eye on several major planning issues, according to Grant Thornton LLP.

For tax year 2016, the Internal Revenue Service has announced annual inflation adjustments for more than 50 tax provisions, including the tax rate schedules, and other tax changes. Revenue Procedure 2015-53 provides details about these annual adjustments.

The technology works by “reading” an electronic tax return produced by common tax packages, allowing the user to create financial statements that can be analyzed within ProfitCents and Sageworks Valuation Solution. All fields can be auto mapped, and ...

A cyber security survey conducted by the FWN indicates a high incidence of risky online behaviors with bank and credit card accounts, smartphones and public Wi-Fi use.

A fifth of small-business owners say they would allow an employee with a medical marijuana prescription to use the drug while at work, according to a survey released Wednesday by Employers Insurance.

The best tax advice you can get is to speak with a CPA or Enrolled Agent. These tax experts can help develop a tax strategy designed around your specific needs and situation, and they are the only professionals who can represent you before the IRS.

As with itemized deductions, the tax benefit of personal exemptions, including exemptions for dependents, is subject to a special phase-out rule. However, unlike deductible expenses that might be moved from one tax year to another, the approach for ...

With more than 54,000 taxpayers coming in to participate in offshore disclosure programs since 2009, the Internal Revenue Service today reminded U.S. taxpayers with undisclosed offshore accounts that they should strongly consider existing paths ...