Income Tax
Looking Back at TY 2013 and a Look at What Lies Ahead
Intuit takes a look back at Tax Year 2013 and projects what changes lie ahead for the tax profession and its products.
R.I. Senate Considers Cutting Corporate Tax Rate
The state Senate will take up discussion of a multi-part bill that would change the way the state taxes corporations.
Summertime Tax Tip #2: Pocket Key Tax Breaks for Vacation Home Rentals
If a client owns a “vacation home” in a resort area – say, a seaside cottage or a mountaintop cabin – the family may enjoy getaways there during the summer months. But when the kids grow up and the trip becomes a hassle, the place may lie dormant for much of the season. It could be time for the client to turn their summer retreat into a rich source of rental income.
Small Business Week: IRS Spotlights Healthcare Tax, Home Office Deduction
The IRS will be holding two free webinars for small businesses and encouraging them to check out several key tax benefits and a special relief program for employers who reclassify their workers as employees.
Charitable Giving to Nonprofits Drops
A quarterly report on the amount that Americans donate to nonprofits shows a decrease in the first quarter of the year, following several months in which the giving rate had seen increases.
Report Shows Odds of Facing an IRS Audit for Individuals, Businesses
Although the actual risk is very low that most Americans will face an IRS audit of their taxes, the fear of that potential is a strong factor that keeps most taxpayers on the level, according to a new report from WalletHub, a financial management and information website for consumers.
Small Tax-Exempt Groups Reminded to File Form 990-N
Reminder for small tax-exempt organizations to file IRS Form 990-N annually to stay in compliance.
Is An MBA Degree Tax Deductible? It Depends
Suppose one of your clients has his or her sights set on obtaining an MBA or another advanced degree. Usually, it takes significant time and effort to achieve this goal, especially if the degree candidate is currently working on a full-time or part-time basis. But earning the degree could be well worth the “blood, sweat and tears” from a monetary standpoint.