Taxes May 11, 2023
How Homeowners Qualify For the New Energy Efficient Tax Credits
The Inflation Reduction Act includes credits for taxpayers who make qualifying energy improvements to their home.
May 11, 2023
New Jersey CPA Pleads Guilty to $2.5 Million Tax Fraud
Benkoil admitted his conduct resulted in a tax loss to the IRS of nearly $2.5 million and has agreed to pay full restitution.
Taxes May 10, 2023
More Flexibility for Section 529 Plans
A 529 plan account owner can roll over up to $35,000 in unused funds to a Roth IRA without paying any tax, beginning in 2024.
Taxes May 7, 2023
Renting a Home Office to Your Company
Make sure the company is paying you a reasonable rent for the space. It should be the same rate that would be charged to a third party.
Taxes May 7, 2023
AICPA Releases Priority Guidance Plan on SECURE 2.0 Act
The American Institute of CPAs recently submitted a letter to the Department of the Treasury and the Internal Revenue Service (IRS) prioritizing certain provisions of SECURE 2.0
Taxes May 6, 2023
What to Do if Your Taxes Get Audited
Check to see if the IRS will be conducting a correspondence audit or a field audit. It makes a big difference in how you should handle things.
Taxes May 5, 2023
Senator Demands IRS Pays Employee Retention Credits Still Owed to Small Businesses
Sen. Kirsten Gillibrand says nearly a million businesses are owed an ERC for keeping their staff on payroll during the pandemic.
Taxes May 4, 2023
Certain TurboTax Users Could Receive Up to $85 Each in Free File Settlement
Last year Intuit agreed to pay millions for tricking low-income tax filers into paying for services that should have been free.
Taxes May 4, 2023
Trump Loses Lawsuit Against New York Times Over Report on His Taxes
The 2018 Times expose, which won a Pulitzer Prize, took a deep dive into Trump’s business and personal tax affairs.
Accounting May 1, 2023
HubSync Secures Series A Funding for All-In-One Tax and Accounting Platform for CPAs
HubSync’s all-in-one, modern client platform which automates the tax return and other key processes and provides a single gateway to drive “Best-in-Class” collaboration between professionals and their clients.
Small Business April 29, 2023
More Home Buyers Are Purchasing Mortgage Points
Mortgage points, also known as discount points, are an option for buyers to pay an upfront fee to buy down the interest rate on a loan.
Taxes April 28, 2023
The IRS is Trying to Change the Way Businesses Report Tips
The IRS's proposed SITCA program seeks to streamline reporting—and, of course, increase tax compliance.