Accounting Article Library

Lately we've been surprised by how many people are thinking about filing a gift tax return without a business valuation. We've had a few conversations with people who are under the impression that they don't need to attach a valuation of… read more

Business and individual taxpayers, as well as their tax professionals, faced a great amount of uncertainty in 2010 as they waited to see what tax rules would apply to them for 2011 and 2012, until the 2010 Tax Relief Act was signed into law… read more

If your manufacturing company has $1 million or more in export sales each year, or if you sell products that are ultimately destined for use overseas, you may benefit from a tax tool that was extended along with the Bush tax cuts in December.… read more

The U.S. Supreme Court has settled a long and contentious debate regarding whether medical residents who work at medical colleges and teaching hospitals are responsible for FICA taxes. The court ruled that the students who work 40 or more… read more

The expected increase in individual income tax rates next year has some small business owners questioning whether now is the time to change their entity structure. Which structure is best for a business is a complex question – and the… read more

As the IRS reaches out to oil spill victims who are receiving payments from BP for lost income, it’s important to remember that such payments can have certainly an impact on individual taxes. The IRS notes that payments for lost… read more

Many workers who lost their jobs due to overseas outsourcing – including auto workers, janitors at auto plants and call center workers – are unaware of a tax credit that could work in their favor. This program pays 80 percent of… read more

The Internal Revenue Service has established a special enforcement unit, named the Global High Wealth Industry group, which is launching a number of audits of individuals with assets or income in the tens of millions of dollars range. The… read more

“Phishing,” or attempts to fool the public into sharing private information, occur at all times of the year, but perhaps those purporting to be from the IRS can appear to be more legitimate during tax season. Don’t be fooled… read more