These days, most businesses have some intangible assets. The tax treatment of these assets can be complex. What makes intangibles so...

If you have a child or grandchild who’s going to attend college in the future, you’ve probably heard about qualified tuition programs,...

IRS audit rates are historically low, according to a recent Government Accountability Office (GAO) report, but that’s little consolation...

In today’s tough job market and economy, the Work Opportunity Tax Credit (WOTC) may help employers. Many business owners are hiring and...

When a married couple files a joint tax return, each spouse is “jointly and severally” liable for the full amount of tax on the couple’s...

When you take withdrawals from your traditional IRA, you probably know that they’re taxable. But there may be a penalty tax on early...

If you donate valuable items to charity, you may be required to get an appraisal. The IRS requires donors and charitable organizations to...

The IRS has begun mailing notices to businesses, financial institutions and other payers that filed certain returns with information that...

If you’re married, you may wonder whether you should file joint or separate tax returns. The answer depends on your individual tax...

Traditional IRAs and Roth IRAs have been around for decades and the rules surrounding them have changed many times. What hasn’t changed...

If you operate a business, or you’re starting a new one, you know you need to keep records of your income and expenses. Specifically, you...

The IRS began accepting 2021 individual tax returns on January 24. If you haven’t prepared yet for tax season, here are three quick tips...

Many tax limits that affect businesses are annually indexed for inflation, and a number of them have increased for 2022. Here’s a rundown...

The IRS announced it is opening the 2021 individual income tax return filing season on January 24. (Business returns are already being...

After two years of no increases, the optional standard mileage rate used to calculate the deductible cost of operating an automobile for...

If you’re starting to worry about your 2021 tax bill, there’s good news — you may still have time to reduce your liability. Here are...

The Infrastructure Investment and Jobs Act (IIJA) was signed into law on November 15, 2021. It includes new information reporting...

The Employee Retention Credit (ERC) was a valuable tax credit that helped employers survive the COVID-19 pandemic. A new law has...

Low interest rates and other factors have caused global merger and acquisition (M&A) activity to reach new highs in 2021, according to...

In order to prepare for a business audit, an IRS examiner generally does research about the specific industry and issues on the...