Haven't received your refund? You're not alone. May 28, 2021 Excerpt courtesy of IRS.gov The IRS is now opening...

1) Charitable Deduction - $300 without using Schedule A to itemize 2) Schedule A – close to itemizing – bunch every other year a....

*Pay final bills and postmark by 12/31/2020 *Newly purchased business equipment must be placed in service by 12/31/2020 to be deductible...

Courtesy of Forbes December 11, 2020 Kelly Phillips Erb The Internal Revenue Service (IRS) has released the...

Don’t have a tax-time surprise – Withhold income tax on unemployment compensation. It’s TAXABLE!!

The Internal Revenue Service and the Treasury have proposed regulations updating the income tax withholding rules to reflect...

The IRS updated the fleet-average and vehicle cents-per-mile valuation rules described...

Ready or not, tax return reporting has changed yet again for the 2020 tax season.

The IRS officially opened the 2020 income tax season on Monday, January 27, when it started accepting tax returns.

The IRS on Tuesday provided the limitations on depreciation deductions for passenger automobiles first placed in service in 2019 and the...

Reflexively, most of us would say “yes.” Most people use the donor’s intent to distinguish between charitable contributions and...

A cancer survivor from Nebraska was sure that her GoFundMe receipts were non-reportable gifts. After all, they were (at least mostly) for...

Courtesy: IRS ~ Here are some questions and answers to help business owners understand the ins and outs of good record-keeping.

Courtesy of Journal of Accountancy by Janet C. Hagy, CPA

If a company has more than one entity, there is a good chance that they are overpaying payroll taxes for some of their employees...

Do you live in a state with high income taxes? If your saving grace has been a long list of deductions, the game may be over thanks to...