Category Archives: Tax

Posted on May 17, 2012

Out of State Business Tax: From Physical Presence to Doing Business

In order to fund their ever increasing budget deficits, states have stepped-up their efforts to collect taxes from out-of-state businesses. States have done so in recent years by shifting from a more restrictive “physical presence” test used for many years … Continue reading →

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Posted on May 10, 2012

What You Need to Know About Higher Education Tax Credits and More

With the school year winding down, a lot of students will be headed towards college in the fall. Here are a few credits and deductions to keep in mind. This is article number seven in our series of Tax Credits. … Continue reading →

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Posted on May 1, 2012

FAQ: What is a Family Partnership?

The family partnership is a common device for reducing the overall tax burden of family members. Family members who contribute property or services to a partnership in exchange for partnership interests are subject to the same general tax rules that … Continue reading →

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Posted on May 1, 2012

Congress Eyes Retirement Savings Plans in Push Toward Tax Reform

Proposals to reform retirement savings plans were highlighted during an April 2012 hearing by the House Ways and Means Committee. Lawmakers were advised by many experts to move slowly on making changes to current retirement programs that might discourage employers … Continue reading →

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Posted on May 1, 2012

Countdown to Supreme Court’s Health Care Decision

After three days of oral arguments in March, the Supreme Court is deciding the fate of the Pension Protection and Affordable Care Act (PPACA) and its companion law, the Health Care and Education Reconciliation Act (HCERA). Not only do the … Continue reading →

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Posted on May 1, 2012

Time for Post-Filing Season Checkup

Your 2011 tax return has been filed, or you have properly filed for an extension. In either case, now it’s time to start thinking about important post-filing season activities to save you tax in 2012 and beyond. A few loose … Continue reading →

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Posted on April 2, 2012

Contemporaneous Tax Records: Are You Keeping Up?

Everybody knows that tax deductions aren’t allowed without proof in the form of documentation. What records are needed to “prove it” to the IRS vary depending upon the type of deduction that you may want to claim. Some documentation cannot … Continue reading →

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Posted on April 2, 2012

Latest IRS Data Book Shows Jump in Higher-Income/Small Business Audit Rates

The just-released 2011 IRS Data Book provides statistical information on IRS examinations, collections and other activities for the most recent fiscal year ended in 2011. The 2011 Data Book statistics, when compared to the 2010 version, shows, among other things, … Continue reading →

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Posted on March 1, 2012

How Do I Guard Against Taxpayer Identity Theft?

The number of tax return-related identity theft incidents has almost doubled in the past three years to well over half a million reported during 2011, according to a recent report by the Treasury Inspector General for Tax Administration (TIGTA). Identity … Continue reading →

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Posted on March 1, 2012

Coming Soon: Greater Tax-Wise Retirement Options

Retired employees often start taking benefits by age 65 and, under the minimum distribution rules, must begin taking distributions from their retirement plans when they reach age 70 1/2. According to Treasury, a 65-year old female has an even chance … Continue reading →

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