Income Tax
Tax Evasion Defense: Resident of Heaven
A Twin Cities woman has pleaded guilty to dodging income taxes for many years in connection with her family excavation and sewage treatment business, when she claimed she and her husband were not U.S. citizens but permanent residents of the "Kingdom of Heaven."
7 Ways that Leasing Technology Can be Better than Purchasing It
When it comes to acquiring new technology, it’s difficult to stomach a hefty capital expense hit. This is especially true if you fear the technology you’re purchasing for your business may become obsolete in just a matter of years.
Tips for Businesses to Avoid Committing Fraud
The School of Graduate and Professional Studies at New England College has but together an infographic that offers an easy go-to guide for businesses on what’s legal and what’s illegal when it comes to managing their business through the year and when preparing for their taxes.
IRS Adopts Taxpayer Bill of Rights
The Internal Revenue Service has created a "Taxpayer Bill of Rights" that will become a cornerstone document to provide the nation's taxpayers with a better understanding of their rights.
New Tax Research System Features Multi-Jurisdictional Content, Enhanced Search
Thomson Reuters has launched its next generation online tax research system, Checkpoint Catalyst, which features multi-jurisdictional content, embedded tools and an enhanced search engine. Catalyst is built on the Checkpoint platform, and is designed to help tax professionals more quickly find research results.
California Businesses Vie for $30 Million in GO-Biz Program Credits
With less than a month to go, California businesses are eager to qualify for a new state income tax credit. The "California Competes" program, administered by the state Office of Business and Economic Development, is handing out $30 million to encourage companies to grow here and not leave the state. The pot will expand to $150 million for the year that begins July 1.
Summertime Tax Tip #10: Taking Business Clients to the Country Club? That’s Entertainment!
It all has to do with the current tax rules for business entertainment. To be deductible as entertainment that is “associated with” your business, the activity must take place immediately before or after a substantial business discussion. Usually, this means the discussion has to be on the same day as the entertainment, but it could occur either the preceding or following day if the clients are from out of town.
Jesse Jackson Jr. Pays $550K Fine, Prison Sentence Reduced
Imprisoned former Rep. Jesse Jackson Jr.'s projected release date is now Sept. 20, 2015, more than three months earlier than listed previously, federal officials confirmed Monday.