Income Tax
2016 Fringe Benefits Tax Series: #4: Cell Phones Can Be A Tax-Free Employee Benefit
If the employer doesn’t provide a cell phone, but instead initiates a reimbursement arrangement for an employee’s personal cell phone that is used for business, the IRS may treat it as a noncompensatory business purpose.
New and Expanded Income Tax Credits for 2016
From credits for electric vehicles, to education deductions and employer credits, there are many changes in 2016. So make sure you and your clients keep up-to-date on these tax breaks.
Employers Get More Time To Comply With Work Opportunity Tax Credit
The IRS is giving employers three additional months to comply with the rules for claiming the Work Opportunity Tax Credit (WOTC). The WOTC is available to employers who hire workers any one of several “target” groups.
IRS Webcast to Cover Foreign Earned Income Exclusion – Free CPE
The Internal Revenue Service will hold a free online, web-based information session to assist U.S. overseas taxpayers in understanding the foreign earned income exclusion on Wednesday, June 29.
New Business Advisor Program Offers Free Tools to Accountants
Advisors can play a key role in helping entrepreneurs understand the importance of building, monitoring and maintaining strong business and personal credit scores to help their businesses grow. Nav's research has found that most small business ...
IRS Expands Electric Vehicle Tax Credit to 30 Cars, Including 3 Porsche Models
The IRS periodically updates the list of plug-in vehicles that are eligible for the credit. As complied by tax publisher Thomson Reuters, the following reflects the credit amounts for qualified vehicles manufactured by well-known companies, based on ...
Accounting Firm Tees Off For Charity, Donates $150K
CohnReznick raised and donated a total of $150,000 to the Special Operations Warrior Foundation (SOWF) and the Joe Torre Safe At Home Foundation.
IRS Warns of Fake Charity Scams Claiming to Help Orlando Mass Shooting Victims
The IRS is warning Americans about fake charity scams that are trying to use the mass shooting in Orlando as a way to raise money.