If you’ve recently started a business, or are in the process of starting one now, you should be aware that the way you treat some of your initial expenses for tax purposes can make a big difference in your tax bill. Generally, expenses incurred before[...]
IRS Newswire FS-2013-9 Many employers outsource their payroll and related tax duties to third-party payers such as payroll service providers and reporting agents. Reputable third-party payers can help employers streamline their business operations by collecting and timely depositing payroll taxes on the employer’s behalf and[...]
A company called Corporate Records Service has mailed solicitations titled “2013 – Annual Minutes Form” to corporations in Missouri, as well as other states. The company is offering to complete corporate meeting minutes on behalf of the corporation for a fee. The solicitations are being[...]
David Smith on KMOV Channel 4 discussing tax refund delays with Larry Connors: (KMOV.com) — A software glitch forced more than 600,000 people to wait longer to receive their tax refunds. The IRS and H&R Block acknowledge the problem is great, but what happens to[...]
As construction comes to a close, but before the moving trucks arrive, we’re opening the doors to Active House USA for one last time. One part of the project utilizes solar, renewable energy that qualifies for a 30% Federal tax credit. A prototype for high[...]
IRS alert. Notification IR-2013-6: WASHINGTON — Certain owners of individual retirement arrangements (IRAs) have a limited time to make tax-free transfers to eligible charities and have them count for tax-year 2012, the Internal Revenue Service said today. IRA owners age 70½ or older have until[...]
Federal Taxes Weekly Alert, In the early morning hours of Jan. 1, 2013, the Senate, by a vote of 89-8, passed H.R.8, the “American Taxpayer Relief Act” (the Act). Late on that same day—hours after the government had technically gone over the “fiscal cliff”—the House[...]
Standard Mileage Rates IRS has announced that the optional mileage allowance for owned or leased autos (including vans, pickups or panel trucks) will increase by 1¢ to 56.5¢ per mile for business travel after 2012. This rate can also be used by employers to reimburse[...]
A client of ours was recently forming a partnership with another individual. The two individuals had a desire to form a partnership of equals but only one partner had the ability to contribute cash. Our client wanted to know if it was possible to contribute[...]
For the last several years we have been faced with year-end legislation, late forms, and other changes that add to the complexity and confusion in our tax code. This year will be no different. There are many expiring provisions that may or may not be[...]