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Tax Scam Roundup

  • 15 November 2016
  • Author: Alexander Carr
  • Number of views: 1020
  • 0 Comments
Tax Scam Roundup
Finally, some good news when it comes to tax scams. Earlier this fall, police in India raided nine call centers that were involved in calling phone numbers in the United States pretending to be IRS agents and demanding payment for taxes. The scam netted the operation approximately $150,000 a day, according to The Wall Street Journal. Even with this large operation shut down, though, it’s important to stay vigilant. Tax scams start and evolve every single day

How the “Gig Economy” May Affect Your Tax Bill

  • 10 November 2016
  • Author: Alexander Carr
  • Number of views: 1448
  • 0 Comments
How the “Gig Economy” May Affect Your Tax Bill
The new “sharing” or “gig” economy has given us all the option to earn a little extra cash on the side.  If you’re a driver for rideshares like Uber or Lyft,  rent property through a service like HomeAway or Airbnb, or participate in any other trendy “gigs”  like consulting through Upworkthe IRS has created a website to help spell out what part of your profit belongs to the government.

Client Spotlight: Workspace Solutions

  • 7 November 2016
  • Author: Alexander Carr
  • Number of views: 0
  • 0 Comments
Client Spotlight: Workspace Solutions

Creating room to grow has been a central theme in Bill Shiller’s life. Learn how he built his thriving office furniture business from the ground up.

How the Election Could Affect Your Federal Taxes

  • 25 October 2016
  • Author: Alexander Carr
  • Number of views: 1164
  • 0 Comments
How the Election Could Affect Your Federal Taxes
Early voting has started and we’re only weeks away from having a new U.S. President elected. There’s been a lot of talk about Donald Trump’s and Hillary Clinton’s own tax records, including Tax Notes’ take featuring Steven Bankler’s expertise.  But how will each candidate affect your own tax bill if they are elected?

IRS Warns: Affordable Care Act-Related Tax Emails Are Fake

  • 18 October 2016
  • Author: Alexander Carr
  • Number of views: 675
  • 0 Comments
IRS Warns: Affordable Care Act-Related Tax Emails Are Fake

IRS-related scams are now entering a new territory: Obamacare. In late September, the IRS issued an alert to taxpayers and tax professionals to be on guard against fake emails purporting to contain an IRS tax bill related to the Affordable Care Act.

Leasing Versus Buying Under the New Section 179

  • 11 October 2016
  • Author: Alexander Carr
  • Number of views: 752
  • 0 Comments
Leasing Versus Buying Under the New Section 179
Now that the IRS Section 179 deduction permanently offers small businesses an immediate expense deduction of up to $500,000, some of the property you may have leased in the past could serve you better when purchased, at least from a tax deduction standpoint

Tracing Holocaust Victims’ Assets: An Investigative Auditor’s Perspective

  • 27 September 2016
  • Author: Alexander Carr
  • Number of views: 2764
  • 0 Comments
Tracing Holocaust Victims’ Assets: An Investigative Auditor’s Perspective
In 1996, United States Senator Alfonse M. D’Amato, Chairman of the Senate Banking Committee, began an inquiry into Swiss banks’ involvement in hiding Holocaust victims’ assets. Specifically, the inquiry examined the procedures by which the Swiss banks conducted the initial search in 1995 that stated that only 893 accounts were found, holding $32 million. The committee conducted the new review which was being undertaken by the Committee of Eminent Persons (EP Committee), also known as the Volcker Commission

IRS Hacked, Again: What You Need to Know

  • 27 September 2016
  • Author: Alexander Carr
  • Number of views: 732
  • 0 Comments
IRS Hacked, Again: What You Need to Know

Access to the IRS e-File PIN service was removed in June following what the agency calls “additional questionable activity.”  The PIN numbers are only the latest in a history of the IRS being hacked, compromising taxpayer information.

Changes Ahead for Businesses Using Payroll, Benefits and Other HR Providers

  • 20 September 2016
  • Author: Alexander Carr
  • Number of views: 755
  • 0 Comments
Changes Ahead for Businesses Using Payroll, Benefits and Other HR Providers
If you work with a provider of payroll, benefits, HR, tax administration or regulatory compliance assistance, you should be aware of a significant law change made by Congress.  Companies that offer these services—often called professional employer organizations (PEOs)—can voluntarily apply to the IRS for inclusion in an IRS certification program

designed to help clarify their tax responsibilities.

Trump’s Tax Returns: What Could They Possibly Reveal?

  • 13 September 2016
  • Author: Alexander Carr
  • Number of views: 1485
  • 0 Comments
Trump’s Tax Returns: What Could They Possibly Reveal?
Steven Bankler, CPA, was recently asked to offer his expertise in an article about Donald Trump’s tax returns for the nationally known publication Tax Notes. Why the fascination with Trump’s taxes? Do we simply want to prove that Trump’s income is much lower than he advertises? (As the article states, Trump puts his wealth in the $10 billion range, while Forbes and Fortune estimate he’s worth $200 million to $4 billion)
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