Small Business Tax Strategies

In response to the scandal involving tax-exempt applications by conservative groups, acting IRS Commissioner Daniel Werfel has released a new report outlining several ways the IRS can correct its flaws.

{ 0 comments }

An article in the June 2013 issue of Forbes magazine certainly raised a few eyebrows in tax circles. According to the writer, William Baldwin, affluent retirees earning hundreds of thousands of dollars a year may actually pay zero federal income tax this year.

{ 0 comments }

The IRS is giving some business entities more time to apply for a tax refund involving severance pay. Alert: The IRS says it will sign Form 907, Agree­­ment to Extend the Time to Bring Suit, for certain taxpayers who had a FICA tax refund claim disallowed based on a controversial 6th Cir­­cuit court ruling.

{ 0 comments }

The IRS has reported that as of May 10 more than 43.6 million people e-filed returns from their homes in 2013, an increase of more than 4% at the same point in 2012 when 41.7 million tax­payers self-prepared e-filings.

{ 0 comments }

Estate planning has been muddled for the past decade or so as professionals and taxpayers alike grappled with an ever-changing tax environment. At long last, the fog has lifted, thanks to the American Taxpayer Relief Act.

{ 0 comments }

Generally, the amount received in a lawsuit settlement is taxable, unless a specific tax law exclusion applies.

{ 0 comments }

A new revenue-raising proposal on Capitol Hill bears watching. It would require emptying out many inherited IRAs within five years under a provision that Senate Democrats added to a student loan relief measure.

{ 0 comments }

Q. Our local municipal government provides $25 gift cards for our employees at Christmas. Are these gift cards taxable? D.O., Martinsville, Va.

{ 1 comment }

Q. I’m selling my home for $800,000 and downsizing. Am I still eligible for any rollover tax deferral? S.K., West Islip, N.Y.

{ 0 comments }

Do you need to employ more workers for an expanding business? The tax law provides a generous Work Opportunity Tax Credit for hiring certain disadvantaged workers. But you might do even better than the regular credit. Strategy: Hire a qualified veteran.

{ 1 comment }

Page 30 of 252« First...1020293031405060...Last »