With the passage of the Protecting Americans from Tax Hikes Act of 2015, the U.S. House of Representatives has ended what some consider a tradition. Some of us will miss the annual end-of-year suspense, the “will they or won’t they” final moments of each December that we have all become used to as lawmakers deliberatecontinue reading…
PATH Act should make tax planning easier for businesses
The House has approved a tax package, the Protecting Americans from Tax Hikes Act of 2015, that will make some tax extenders permanent. Both the Senate and the White House have indicated support for the bill, and news analysts expect it to become law before Christmas. As a result, for the first time in acontinue reading…
Do tax laws make it better to receive than to give?
The holidays may not be the most wonderful time of the year for a business that is unfamiliar with corporate gift laws. The IRS has tried to make the rules about business gifts straightforward, but there are other laws, like the foreign Corrupt Practices Act, that make it all more complicated. Some tax professionals suggestcontinue reading…
Everything old is new again when it comes to tax extenders
Here’s a surprise: Congress is ready to debate the so-called tax extenders that expired at the end of 2014. Accounting Today reports that the IRS has issued its annual warning that the tax season could start late if Congress does not act soon. If the past few years are any indication, the bill will be passed atcontinue reading…
Nexus schmexus: Report claims businesses confused about sales tax p3
We are just finishing up our discussion of sales and use taxes, who must pay them and when they are due. Small and mid-sized businesses, that is, businesses that may not have a full-time tax expert on hand, may be more vulnerable to the confusion that seems to be the hallmark of sales and usecontinue reading…