As you near your graduation day, many of you may feel overwhelmed by the fact that in a short time you will have to start looking for your entry-level jobs. Even more overwhelming is the statistic that before actually entering the labor market, the Institute for...
The start of the New Year marks the beginning of the IRS informational reporting season that will keep most business owner’s heads spinning. None are overbearing or difficult unless, of course, you don’t get them right the first time. Failure to correctly file W-2...
Code Section 61 defines gross income, “except as otherwise provided,…gross income means all income from whatever source derived,” Regulation 1.61-1 further states that Gains from wagering transactions are included in gross income. I suspect that most households...
If you read my last blog on Getting Organized for Tax Time, you remember that over 150,000,000 Americans will file a tax return this year. Tax preparers and software vendors will dominate advertising space over the next few months. They want to convince you that...
“…in this world nothing can be said to be certain, except death and taxes.” Benjamin Franklin. Though Mr. Franklin understood clearly that paying taxes was a certainty, he could not have imagined just how complex tax filing would become. The U.S. tax code is a...
Kudos to congress for passing legislation and protecting the timber industry from a bevy of tax increases. Importantly, the Act extends, and in some cases makes permanent, many provisions that will allow businesses more tax savings opportunities. The PATH act, signed...
