Over the last several years, Manny Pacquiao has earned his way to becoming one of the most successful boxers in the world. In fact, he was listed as the 14th highest paid athlete in 2013 by Forbes. Of course, these earnings aren’t without sizeable tax liabilities. Even though Pacquiao has gone to significant lengths to plancontinue reading…
Be prepared: New tax audit rules set to take hold in 2014
Receiving notice of an Internal Revenue Service audit can create anxiety for individuals and businesses, no matter the value of their assets. Even if a person or organization has not knowingly provided inaccurate information to the IRS, it is definitely something to take seriously. A new audit rule, set to take effect as the calendar turns tocontinue reading…
Loan provides tax benefits, addresses veterinary shortages
In most places, veterinarians and other animal service providers are critical to both two-legged and four-legged members of the community. This is especially true in matters of food animal service in certain areas of high priority. Many shortages of veterinarians can be blamed on the high cost of finishing medical training, now estimated at morecontinue reading…
New ruling changes law on tax-free housing for clergy
A federal judge has handed down a ruling that reverses the previous Congressional law passed in 1954 exempting people of the cloth from paying taxes on that part of their compensation earmarked for housing. This action has the potential to have enormous fiscal impact for ministers throughout the country. According to the sitting United Statescontinue reading…
Inconspicuous IRS rule change could have overt consequences
Tax refund checks are one of the few pieces of mail that people actually enjoy receiving from the Internal Revenue Service. Families often budget the use of this money for special purposes. As such, one woman’s dismay when she found out that nearly all of her refund had been garnished for an old debt iscontinue reading…
