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Your Accounting Edge

 

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Current Issues
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Reducing Your Property Tax Bill - Many real estate tax assessments are made erroneously, and many homeowners who challenge their real estate tax assessments succeed in reducing their property taxes.
Personal Tax

IRS Penalties - Pretty much every hour it seems (or perhaps we exaggerate out of frustration), a client calls us in a panic over a tax penalty he or she has been assessed.  The number of penalties available to the IRS to punish wrongdoers is staggering. 

Want to know how much your total tax bill is including sales, income, property, etc?  Try the AICPA's new Total Tax Calculator!

Business Strategy

Business Record Retention  - Ever wondered how long you should keep copies of those old bank statements.  If you're like many of our clients, you probably keep them longer than you're actually required to.  Prolonged record retention is a costly practice.

Affordable Care Act - Provisions of this Act will take effect over the next two years so we have linked an excellent resource at Healthcare.gov where you can read key features of the Act, view the implementation timeline and get resources you can use to implement the Act at your business.

 

 

 

  

 

Today's National News

 

IRS Announcements

More Flexible Offer-In-Compromise Terms

IRS Interest Rate Remains Same For 3rd Quarter

IRS Spotlights Expanded Tax Credits

The Small Business Health Care Tax Credit

New IRS Online Search Tool For Exempt Organizations

IRS YouTube Videos Offer Tax Help

IRS Releases New Smartphone App

The Dirty Dozen Tax Scams For 2012

Payroll Tax Cut Extended Through End of 2012

IRS and Justice Cracking Down on Identity Theft

More Innocent Spouses Now Qualify For Relief 



Past Tax Acts of Note


Tax Relief And Job Creation Act of 2010 - After much debate over whether to extend the Bush-era tax cuts for all taxpayers, congress finally passed and the president signed, the Tax Relief and Job Creation Act of 2010 on December 17, 2010

2010 Small Business Jobs Act - In September, 2010, Congress passed and the President signed into law the 2010 Small Business Jobs Act (Act).

The American Recovery and Reinvestment Act of 2009 - The Recovery Act was signed into law on Feb. 17, 2009 and makes a number of beneficial changes for both individuals and businesses. 

2008 Economic Stabilization Act - After several months of declining stock markets and frozen credit markets, Congress acted quickly to pass the Emergency Economic Stabilization Act of 2008. 

Economic Stimulus Act of 2008 - On February 13, 2008, the President signed the Economic Stimulus Act of 2008 providing rebates for individuals and incentives for business investment.

Small Business and Work Opportunity Tax Act of 2007 - Congress passed this Act in order to provide small business tax relief as a counter to the phased-in increase in the federal minimum wage from $5.15 an hour to $7.25 an hour over the next two years.

2006 Tax Relief and Healthcare Act - Now that the election cycle is finally over, Congress has acted to extend a significant number of tax breaks that have been held up due to partisan wrangling.  The Act also provides for some tax changes taking effect in 2007.

2006 Pension Protection Act - On August 4th, Congress passed the Pension Protection Act of 2006 ("PPA"), a package of sweeping reforms for employer-sponsored retirement plans. 

Links to external sites are provided as a courtesy. They are not endorsed and their accuracy has not been verified by our firm or staff.

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