Category: Business Tax Preparation

ATRA & AMT -OMG!

March 11, 2013

The alternative minimum tax makes tax planning much more difficult, and often taxpayers whose annual incomes have increased are unpleasantly surprised when they learn they owe AMT.

Late Forms from IRS Lead to Protest

March 4, 2013

CPA firms and organizations throughout the country are doing their part to petition for taxpayer relief. These organizations are raising a question of fairness, as taxpayers wait on the IRS, though IRS deadlines aren’t waiting for taxpayers.

Worst States for Tax Rates

February 14, 2013

New “tax climate” rankings have been released giving a state-by-state view of the overall impact of all types of taxes on your pocketbook. The range of the tax impact in the Midwest goes from average to not-so-good.

Guns and Taxes

February 13, 2013

Heated debate on gun control is causing a re-emergence of arguments on the effect of excise taxes, sometimes referred to as “hidden” taxes, as analysts determine the economic impact of changing laws.

Income Tax Head-Spin Season

January 25, 2013

If your head is spinning from all the new tax law changes, you’re not alone. Even the IRS’s own National Taxpayer Advocate (yes, there’s a person with that job) has reported to lawmakers that today’s tax code is so complicated it “obscures comprehension”. More than 60 percent of taxpayers must use the services of a professional to complete their tax returns.