MBA News

How much money do you need to raise a child? According to an estimate from the U.S. Department of Agriculture, it will cost a middle-income couple roughly $245,000 to raise a child born in 2013 to the age of 18. This is up 1.8 percent from the prior year. Plus, the estimated... Continue Reading

The Tax Increase Prevention Act of 2014 (TIPA) extended through Dec. 31, 2014, a wide variety of tax breaks, including many tax credits — which are particularly valuable because they reduce taxes dollar-for-dollar. Here are three credits that businesses may benefit from when they... Continue Reading

The better organized you keep your information, the easier it is to file early because you don’t need to search for missing data. And you can speed up your refund by getting your tax return filed early in the tax season.   Last-minute tax preparation is stressful. Beat the... Continue Reading

The “quickie election” rules were originally proposed two years ago, but were narrowly rejected by the National Labor Relations Board (NLRB) when the majority of its five members were appointees of President George W. Bush. Today the majority are President Obama... Continue Reading

The recent terrorist attacks in France may have prompted Congress to reauthorize the Terrorism Risk Insurance Act (TRIA), which had expired at midnight on December 31, 2014. The U.S. House of Representatives approved a bill on January 7 that extends protection for six more years... Continue Reading

On Dec. 19, the president signed into law the Tax Increase Prevention Act of 2014 (TIPA), which extended through Dec. 31, 2014, many valuable tax breaks that had expired at the end of 2013. Here are three that individuals may be able to take advantage of when filing their 2014... Continue Reading

January 15 Individual taxpayers’ final 2014 estimated tax payment is due unless Form 1040 is filed by February 2, 2015, and any tax due is paid with the return. February 2 Most employers must file Form 941 (“Employer’s Quarterly Federal Tax Return”) to report Medicare, Social... Continue Reading

Taxability of rewards programs For anyone who spends a lot of time traveling by air for business purposes, one of the nice things that typically occurs because of all of that travel is frequent flyer miles. Even better, about 14 years ago the IRS addressed the controversial... Continue Reading

A set of tax rules known as the uniform capitalization (UNICAP) rules require certain business costs that are normally expensed as they’re incurred to instead be capitalized as part of the cost of inventory held for resale or noninventory items produced by a taxpayer for use in... Continue Reading