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On December 19, 2014, the President signed into law the Tax Increase Prevention Act of 2014. This legislation included the Achieving a Better Life Experience Act of 2014 (ABLE Act), which provides for a new type of tax-advantaged account for disabled persons called ABLE accounts....

The Baby Boomers generation — a population “boom” of nearly 80 million people born from 1946 to 1964 — has been affecting consumer market trends for decades. Now they’re ushering in a new wave of trends as they transition to the next stage of their...

If your business has made repairs to tangible property, such as buildings, machinery, equipment and vehicles, you may be eligible for a deduction on your 2014 income tax return. But you must make sure they were truly “repairs,” and not actually “improvements.” Why? Costs incurred...

Even in the best of times, starting — and growing — a small business can be tough. But the credit crunch that followed 2008’s mortgage meltdown made finding working capital almost impossible for many business owners. One of the ways the government is helping to fill the credit...

When it comes to taxes, all investments aren’t created equal — everything depends on their character and timing. So before you sell appreciated stock, buy interest-bearing bonds or even rebalance your portfolio, learn the tax consequences. Deferring vs. paying now The first...

It’s not time to put your dollar bills into memory capsules yet, but the use of convertible virtual currencies — including the Bitcoin — appears to be on the upswing. In addition to announcements that Bitcoins will be accepted by some high-profile companies...

Every year during awards season in Hollywood, the IRS tallies its own votes for the most notorious tax scams of the year. Taxpayers are ultimately responsible for the information on their personal tax returns. So intentional or inadvertent participation in one of these 2015...

Investment interest — interest on debt used to buy assets held for investment, such as margin debt used to buy securities — generally is deductible for both regular tax and alternative minimum tax purposes. But special rules apply that can make the deduction less beneficial than...

Here is a library of some of the IRS publications covering issues that can affect businesses and employers. The rules are often complicated and can be difficult to implement. Contact us if you need further guidance.       Title Publication Number Description...

On the second Sunday of March at 2 a.m., Daylight Saving Time begins for most of the United States — so this year,  we’ll turn the clocks forward one hour on March 8.* Just remember…Spring forward, Fall back    * Traditionally, Daylight Saving Time began in...