Just before adjourning on December 16, the Senate passed the Tax Increase Prevention Act of 2014 (TIPA), which was passed by the House on December 3. The White House announced that President Obama will sign the law, which renews more than 50 expired tax breaks. This gives taxpayers just 10 days — excluding the federal holiday and weekends...

This document is all-inclusive and was drafted to allow our clients to comply with this law without taking hours to draft this policy from scratch. It covers all of the requirements of the regulation – providing a general summary, then discussing the various types of assets that you may encounter with your business, capitalized interest, leases, and asset disposal.

By: Charles L. Telk Jr., CPA, Partner  |  email Recently we have seen a new type of IRS notice that I have not previously seen in my 28 years of practicing public accounting. The IRS sends a letter to a corporation assessing additional tax on “unreported income”. The source of this unreported income are 1099’s...

The Expiring Provisions Improvement Reform and Efficiency (EXPIRE) Act proposes to extend several individual, business and energy incentive for up to two years. Those incentives include:

As we enter 2014, a number of changes take place, including those made by the American Taxpayer Relief Act of 2012 (ATRA), signed into law on January 2, 2013, and the provisions in the Patient Protection and Affordable Care Act of 2010 (ACA), scheduled to take effect in 2013 and 2014.

The American Taxpayer Relief Act of 2012 was signed into law on January 2, 2013. This new law modifies or extends many business tax breaks, and also contains many changes to individual income tax. There are substantial additional changes in this act, but the following are most likely to impact you and/or your business.