Taxes
U.S. Sales Tax Reached All-Time High
Historically, over the past 60 years, it has been shown that during adverse economic cycles, the sales tax provides a much more consistent method of funding relative to the income tax.
Accounting Firm Saved Clients More Than $1 Million in Taxes from 2019-2021
According to SideHustle.com, 45% of Americans (70 million people) report having a side hustle. Among millennials, that number rises to 50%, while 70% of Gen Zs reported looking for a side hustle.
Georgia Says Embryos are Dependents for Tax Purposes
The state of Georgia's taxation department has announced that taxpayers can claim fertilized embryos as dependents for tax purposes.
History Rewind: Behind the Bernie Madoff Scam
In 2009, Bernie Madoff pleaded guilty to a Ponzi scheme that cost investors an estimated total of $65 billion, the largest in U.S. history. Before that, he had been chairman of the NASDAQ stock ...
IRS Admits Mistakes Have Been Made with Some Balance Due Notices
Taxpayers who received a CP14 notice but already paid the tax they owed do not need to respond to the notice, IRS said.
Leveraging Value-Added Services For Higher Quality Engagements With Clients
Unearthing a client’s needs may not be as simple as asking them to employ your consulting services, but it won’t take intensive investigative work either.
Sioux City CPA Found Not Guilty of Filing False Tax Returns
“I’m looking forward to finally being able to move on with my life,” said David Schmit, partner at King, Reinsch, Prosser & Co.
Brooklyn Man Who Withheld Info from Tax Preparer Pleads Guilty to Tax Evasion
The man underreported to his return preparer the actual amount of income he received from the sale of his stock, which was worth $4.1 million.