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A Dozen Ways to Cut Taxes This Summer

Summer is finally here. While you’re enjoying the warmer weather, it’s still important to remain diligent about business and personal tax planning. Fortunately, many of the following hot summer tax-planning tips enable taxpayers to combine business with pleasure. Summer Tax…

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Tax Identity Theft Persists

According to a recent press release from Federal Trade Commission (FTC), tax identity theft was more common than any other form of identity theft in the United States for 2014. The commission received 109,063 complaints about tax identity theft, which…

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Prevent the Loss of Your S Corp Status

With the benefits of filing as an S corporation (S corp), it would seem likely that most companies would take care to prevent the loss of this status. Yet, many fail to take precautionary steps to avoid the termination of…

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Can You Deduct Job-Related Moving Expenses?

As the weather and economy continue to warm up, employers around the country may be looking to hire more workers, including some already employed at high-paying jobs. If you go to work for a new firm — or your current…

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Farming Businesses: Nine Tips from the IRS to Help with Taxes

Farming businesses encompass a wide range of operations. All individuals, partnerships, or corporations that cultivate, operate, or manage farms for profit, either as owners or tenants, are designated as farmers. The term “farm” includes livestock, dairy, poultry, fruit, and truck…

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Coming Soon: ABLE Accounts for Disabled Individuals

On December 19, 2014, the President signed into law the Tax Increase Prevention Act of 2014. This legislation included the Achieving a Better Life Experience Act of 2014 (ABLE Act), which provides for a new type of tax-advantaged account for…

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Get a Better Handle on Bitcoin Tax Issues

It’s not time to put your dollar bills into memory capsules yet, but the use of convertible virtual currencies — including the Bitcoin — appears to be on the upswing. In addition to announcements that Bitcoins will be accepted by…

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