2018 Q2 TAX CALENDAR: KEY DEADLINES FOR BUSINESSES AND OTHER EMPLOYERS Here are some of the key tax-related deadlines affecting businesses and other employers during the second quarter of 2018. Keep in mind that this list isn’t all-inclusive, so there may be...
Innovative Strategies For Winning Tax Controversies, Business Structuring And Estate Planning
Tax
115th Congress – Will we get Tax Reform and Simplification?
Yesterday, the 115th Congress convened.The Republicans are in charge of both the House and Senate and there is been a lot of talk about tax reduction and “tax reform”. Does this mean we will get tax simplification? Since President Reagan signed the Internal Revenue...
Take stock of your inventory accounting method’s impact on your tax bill
TAKE STOCK OF YOUR INVENTORY ACCOUNTING METHOD’S IMPACT ON YOUR TAX BILL If your business involves the production, purchase or sale of merchandise, your inventory accounting method can significantly affect your tax liability. In some cases, using the last-in,...
Help prevent the year-end vacation-time scramble with a PTO contribution arrangement
HELP PREVENT THE YEAR-END VACATION-TIME SCRAMBLE WITH A PTO CONTRIBUTION ARRANGEMENT Many businesses find themselves short-staffed from Thanksgiving through December 31 as employees take time off to spend with family and friends. But if you limit how many vacation...
Sugar Tax Helps Beverage Companies!
The Internet is filled with reports from a recent article in the Journal of American Public Health showing that a sugar tax cuts consumption of sugar sweetened soda. This plays right into the hands of Bradford manufacturers! You are probably thinking I am crazy, but...
Trump’s Tax Returns
The controversy swirling around Donald Trump’s tax returns is getting more and more ridiculous. First, Donald Trump is continually being audited by the IRS and many state tax agencies. There is absolutely no way his tax attorneys would ever let him release his tax...
Candidate Clinton wants to increase Estate/Death Taxes
Not surprisingly, Hillary Clinton is proposing to increase federal estate taxes from 40% to 45%. Right now, the rate starts at 40% for people who die with an estate, including all assets such as insurance, in excess of $5.45 million. Clinton has repeatedly...
European governments attack business!
Thursday, European governments got together to attack people trying to own and control their businesses anonymously. The governments of France, Britain, Germany, Italy and Spain got together to create laws and try to enforce treaties to force banks and governments to...
Establishing an online business in the US – Partnerships
Basic Entities in the United States – Partnerships Partnerships are similar to a sole proprietorship in that the individuals have personal liability. This means that each partner is liable for their own actions and the actions of the other partners. That is a big...
Hiding receipts by cash is a Tax issue
Cash is a good way to get clobbered for taxes! For many years, small restaurants, bars, pizza parlors, ice cream stands, and other food establishments have used all cash systems to hide their income and not pay sales tax and income tax on the full receipts. In New...