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With Congress returning from its August recess, this is the question on tax-savvy Americans’ minds. Many valuable tax breaks aren’t permanent, so Congress has to pass legislation extending them to keep them in effect. Unfortunately, Congress often waits until the last minute to...

A natural disaster or other casualty can be bad news for your business, but you might be able to salvage a tax break. Taxpayers can claim a casualty loss deduction on their tax returns if they’ve suffered a “sudden, unexpected or unusual” event — including...

A federal electronic system for the management of income withholding orders (IWO) related to child support wage garnishment is scheduled to be available to employers October 1. Chances are, as an employer you’ve had to deal with the tough issue of withholding employee wages...

Owning a house with a white picket fence is a quintessential part of the American dream. But an increasing number of Americans are deciding that renting a home is a better fit for their families than buying one. “Over the next 15 years, new renters will outnumber new...

The tax treatment of investment income varies, and not just based on whether the income is in the form of dividends or interest. Qualified dividends are taxed at the favorable long-term capital gains tax rate (generally 15% or 20%) rather than at the applicable ordinary-income...

When valuators use the income approach, long-term sustainable growth is an important assumption. That’s because a small difference in the projected growth rate can have a big impact on business value. Why growth assumptions matter Here’s a simplified example of why long-term...

The Internet Tax Freedom Act (ITFA) is currently set to expire at the end of September. A bill to permanently extend the ITFA passed the House in June and is awaiting approval by the Senate. There’s a common misconception that the ITFA provides businesses with a...

It’s easy to get so caught up in leading your organization that you lose sight of what’s going on two or three layers down the organizational chart. There could be a lot of frustration and dysfunction at that level, yet the only reports you hear from your managers are...