News

Getting the Most Bang for Your Audit Bucks Audits are great financial tools for financial institutions, bonding agencies, CFOs, and board of directors, but many organizations often fail to see their own audit... Continue Reading

Many tax changes enacted and some still pending Enacted Tax Legislation  The year 2009 was certainly another active year for tax law changes. One that will impact nearly all Americans who use a tax... Continue Reading

“Bonus” First Year Depreciation and Section 179 Expensing   The 2009 Recovery Act provides several incentives for business investment in capital and equipment. These provisions extend prior law... Continue Reading

As tax season comes to a close, many taxpayers put the IRS out of their mind until the next tax season rolls around. However, some taxpayers aren’t so lucky as they are recipients of dreaded IRS letter... Continue Reading

A new first-time homebuyer credit of up to $7,500 has been designed by Congress to entice middle-class taxpayers to get off the sidelines and buy their first home. This temporary tax credit applies for homes... Continue Reading

At the end of May 2007 new tax legislation was signed into law. The following are some of the highlights (and lowlights) of the new legislation: Small Business Expensing. The new law extends and expands... Continue Reading

Many small and mid-size businesses operate as “S corporations” for income tax purposes. As an S corporation, the business does not compute a tax liability on its operations, but instead shareholders report... Continue Reading

Got debt. Got debt relief. Walked away. Now what? Generally, if you borrow money from a commercial lender and the lender later cancels or forgives either a portion or all of the debt, you may have to include... Continue Reading

In 2009 and 2010, the Making Work Pay provision of the American Recovery and Reinvestment Act will provide a refundable tax credit of up to $400 for working individuals and up to $800 for married taxpayers... Continue Reading