Tax Season 2015 – Refunds Maybe Delayed but Fewer Audits are Predicted Significant budget cuts at the IRS are likely to affect many taxpayers this tax season. The IRS expects that the budget cuts, which started in 2010, will put over 17,000 IRS workers out of a job before they are finished. It is […]
IRS – Opening Date for Tax Season 2015
IRS – Opening Date for Tax Season 2015 – In spite of the fact that the tax extenders bill, a major piece of tax legislation, was passed just weeks before the end of the year, the Internal Revenue Service has announced that there will be no delay to the opening of the 2015 tax season. […]
Audit-Proof your Small Business Tax Return
Audit-Proof your Small Business Tax Return Audit-Proof your Small Business Tax Return – Although there is no way for a small business to avoid an IRS audit with absolute certainty, there are some steps that can be taken to minimize the chances of being selected. In addition to being one of the categories targeted for […]
Are Business Taxes Too High?
Are Business Taxes Too High? Are Business Taxes Too High? The debate continues between those who think that the United States corporate tax rate is too high and those who think that it is in line with the average corporate tax rate for other countries. Although it is unlikely that a major tax reform bill […]
Important – Net Operating Loss Deduction!
Don’t Overlook the Net Operating Loss Deduction Important:- Net Operating Loss Deduction – The carryover of a net operating loss is a valuable tax deduction in that it allows an operating loss from the current tax year to offset income from previous or future tax years. This is important because it one of the only […]