Posted on September 01, 2017
by
Karen Lake
The IRS announced a tax relief program for victims of Hurricane Harvey in Texas as well as other taxpayers who live outside of the disaster area but whose records are located in the affected region. Most taxpayers do not need to call the IRS to receive the relief; the agency automatically identifies and applies filing […]
Posted on August 24, 2017
by
Jack Winter
When U.S. taxpayers file their income taxes each year, they must choose a tax-filing status to ultimately determine the amount of taxes they must pay to the IRS. In some instances, selecting a filing status is easy; under certain circumstances, however, more than one filing status may apply. It is critical that taxpayers carefully consider […]
Posted on August 18, 2017
by
Karen Lake
There is no doubt that the rise of interconnectivity between networks, devices and apps have helped businesses in virtually all industries improve operational efficiency and personalize the customer experience. While more than half of U.S. states have made some progress in defining the sales taxability of digital goods and software, either by adopting the standards […]
Posted on August 15, 2017
by
Edward Cooper
The Department of Treasury in July 2017 announced its intent to reform or repeal eight tax regulations enacted during the Obama administration that it deems to be financially burdensome or excessively complex for U.S. taxpayers. It is expected that Treasury will make its final recommendations on these rules by September 18, 2017. The regulations at risk […]
Posted on August 11, 2017
by
Rick Bazzani
Working parents may be able to offset some of the costs of sending their children to summer day camp when they qualify for the Child and Dependent Care Tax Credit. The credit, which is based on a taxpayer’s gross income, filing status, amount of allowable expenses and number of children, can be worth up to $2,100 for a […]
Posted on August 01, 2017
by
Joseph Saka
Tax-related scams are casting a dark cloud over the typically blue skies and sunshine-filled days of the summer months. During this time of easy living, people must remain vigilant against new and often aggressive schemes that can comprise their personal information and financial security and leave them as yet another victim of identity theft. […]
Posted on July 31, 2017
by
Karen Lake
Florida families preparing for the beginning of another school year should plan their back-to-school shopping during the state’s sales tax holiday weekend, which runs Friday, August 4, through Sunday, August 6. Public schools in Miami-Dade and Broward counties begin on August 21, and one week earlier for Palm Beach County. During the sales-tax holiday, Florida […]
Posted on July 24, 2017
by
Jack Winter
Individual and business taxpayers erroneously believe that once they file their returns in April, they can put those documents away in a file cabinet and ignore them until the following year. The fact is that the information contained in an annual tax return can provide an abundance of information about your current financial health and […]
Posted on July 17, 2017
High-net-worth U.S. taxpayers who live in certain states have more worries than the federal estate tax taking a bite out of their wealth. The residents in 14 states and the District of Columbia are also subject to estate taxes at the state level, while another six states impose an inheritance tax on assets bequeathed to […]
Despite the Department of Labor’s recent retraction of the prior administration’s narrow interpretation of the Fair Labor Standards Act (FLSA), businesses must remain vigilant in upholding the underlying law that requires proper classification of workers as either employees or independent contractors. Failure to do so can put businesses at risk of legal exposure, severe penalties […]
