Taxes
Latest News
IRS Shares Five New Warning Signs of Incorrect ERC Claims
‘Unpredictable’ Election Clouds Tax and Economic Policy View
Sanders May Bring His Populist Brand to Powerful Senate Finance Committee
Accountant Gets Jail Time For Charging $3 Million on New Jersey Employer’s Credit Card
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How to Prepare for a Recession: Make Your Accounting Firm Recession-Proof
Recession-proofing your firm is only as successful as recession-proofing your clients’ businesses. The recession will end at one point. But the client relationships you preserve will last well beyond.
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The Tax Blotter – Nov. 2022
The Tax Blotter is a round-up of recent tax news and rulings.
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Home Sale Gain Exclusion When a Taxpayer Remarries
Under Section 121 of the Internal Revenue Code, you may be able to exclude most, if not all, of your gain from tax when you finally sell the home.
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Tax Court Imposes Limit on Capital Losses
Notably, you may use a loss to offset a short-term gain realized earlier in the year that would otherwise be taxed at a high ordinary income tax rate.
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Helping Special Needs Families Plan Their Financial Futures
Families may have a million questions about their child’s care, education, residence and employment when they reach adulthood.
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100% Bonus Depreciation for Aircraft Purchases About to End
For the last five years, businesses have been able to use bonus depreciation to expense 100 percent of qualified property, including big-ticket purchases like business aircraft.
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Tax Court Decides “He Said, She Said” Case
Generally, the IRS has three years from the later of the time your tax return was filed or its due date to review the return and assess tax.
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Trump Accountant Testifies on Taxes: Shocked by Christmas Bonuses
Accountant: "I probably would’ve had a heart attack,” Bender said on cross-examination.