MARK YOUR CALENDARS FOR NEW TAX RETURN DUE DATES AND EXTENSIONS
Here at One River CPAs, we’re already looking forward to next tax season! While we’ll try to enjoy the beautiful Maine summer weather, we’re always thinking of taxes. We have some good news and bad news. The good news is: partnership returns will be due March 15...
IT’S BETTER TO GIVE THAN TO RECEIVE
Since moving to the Mid-Coast area a few years ago, my wife and I have been called upon many times to help a number of local charities. We are very strong believers that it is our obligation to make our community stronger during our brief stay in this wonderful world...
THE MANY FACES OF TAXABLE INCOME: GAMBLING & LOTTERY WINNINGS
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...
WHO SHOULD PREPARE MY TAXES?
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...
Getting Organized for Tax Time
“…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...
Protecting Americans from Tax Hikes Act 2015 – Its effect on the Timber and Wood Products Industries.
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...