Taxes

taxes1

March 23, 2014 

The Biggest Tax Mistakes for Small Businesses

There are strategies that these business owners can take to help alleviate many of these tax time woes, and a big one is by staying in more frequent contact with their accountant. That's according to a new nationwide survey of accounting professionals.

Isaac M. O'Bannon

 10 Income Tax Breaks for the Rich and Famous

March 20, 2014 

10 Income Tax Breaks for the Rich and Famous

Many federal income tax breaks are reserved for low-income families – the earned income tax credit (EITC) instantly comes to mind – but that doesn’t mean that wealthier individuals can’t get their fair share of the pie.

Ken Berry, JD

 The Complications of an Untaxed Death

March 20, 2014 

The Complications of an Untaxed Death

Wow! I just read an article about a woman who died six years ago and no one noticed. (Talk about a senior’s biggest fear.) It seems that she had so much liquidity in her bank account that her automatic payments lasted that long – before her mortgage company finally foreclosed.

Eva Rosenberg

 N.Y. Town Clerk Accused of Embezzling $117K

March 20, 2014 

N.Y. Town Clerk Accused of Embezzling $117K

New York state police, based on information developed by a state comptroller's audit, have arrested a former clerk/treasurer of the now-dissolved village of Altmar, Oswego County, and charged her with embezzling $117,615 in village funds.

 Autonomy CEO Says HP is Misleading Investors

March 19, 2014 

Autonomy CEO Says HP is Misleading Investors

In a sharply worded letter released Wednesday, Mike Lynch, former chief executive of Autonomy, has accused Hewlett-Packard of misleading shareholders about the accounting problems it claimed to have uncovered at the British company it acquired in 2011.

 8 Common 1031 Property Exchange Mistakes

March 18, 2014 

8 Common 1031 Property Exchange Mistakes

A 1031 exchange is a swap of one business or investment asset for another without tax. Right? Sure, but there are very specific rules and conditions and if, like many investors, you make one of these common mistakes, you could be paying a significant penalty.

 Don’t Miss These Six State Income Tax Items

March 18, 2014 

Don’t Miss These Six State Income Tax Items

State income taxes are often overlooked by the general public, but professional tax return preparers should not make the same mistake. Nevertheless, it is easy to miss tax benefits or liabilities associated with state income taxes, especially as they relate to federal Form 1040.

Ken Berry, JD