Non-profit Annual Filing Due

Annual reporting is required for all organizations that wish to keep their non-profit status intact. The due date for this filing is May 16, 2016 for calendar year organizations. How can you help ensure your favorite charities stay compliant? Check on-line. The IRS has a master list of charitable organizations… Read More

2015 Tax Quiz

The states must be crazy Historically, nexus laws protect consumers and businesses from paying taxes to states where they do not visit or live. These laws are intended to protect interstate commerce. With the lack of strong federal tax guidance, many states are now passing fairly creative laws to reach… Read More

IRS Announces Dirty Dozen Tax Scams

Each year the IRS announces “Dirty Dozen Tax Scams” they encounter regarding frivolous tax arguments and fraud. While six of the “scams” are related to, “don’t cheat we have our eyes on you,” the other six are scams that all of us should be on guard to detect. Identity theft…. Read More

A Dozen IRS Not so Fine Penalties

Over the past few years the IRS has made the use of penalties and fines a more prevalent tool to encourage compliance among taxpayers. This “stick” approach is in direct contrast to the “voluntary” philosophy built within our tax system. Here are a dozen of the more common penalties and… Read More

Twelve Common Missing Tax Return Items

  Want your tax return filed quickly and without error? Then double-check this handy list of items that are often overlooked. Review and signing your e-file approval. The sooner you review and approve your tax return, the sooner it can be filed. Having proof of health insurance. Most taxpayers should… Read More

IRS Revises Safe Harbor Repair Regulations

In November the IRS increased the amount your business can expense versus capitalize from $500 to $2,500. This change impacts businesses that do not publish applicable financial statements. The new rule takes effect starting in 2016, but there is audit protection for using this new limit in prior years. What… Read More

Free Shipping is Not so Free

One of the most successful selling techniques used today is to offer “free” shipping for mail and internet orders. But shipping is never free. So why is it such a popular offer to buyers of goods and services? The average order size play. The classic way sellers pay for the… Read More

There is Still Time for Retirement Funding

There is still time to make a contribution to a Traditional IRA or Roth IRA for the 2015 tax year. The annual contribution limit is $5,500 or $6,500 if you are age 50 or over. Prior to making the contribution, if you (or your spouse) are an active participant in… Read More

A Couple IRS Wrinkles That May Impact You

The IRS made two recent announcements that may impact you this tax-filing season. Being aware of these announcements may keep you from unknowingly delaying filing your tax return. One topic is regarding proof you have qualified health insurance and the other topic is an error in notices sent to victims… Read More