It’s time for a mid-year business checkup!

Time flies when you’re busy running a business. But it’s important to occasionally pause and assess interim performance — otherwise you’re likely to be surprised by the year-end results. When reviewing mid-year financial reports, however, recognize their potential shortcomings. These…

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Social Security Changes

Retirees planning on using two popular Social Security benefit-boosting strategies could soon be out of luck. The budget bill the House passed eliminated the strategies, described as “unintended loopholes” from a 15-year old law.…

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Top Ten Tax Developments of 2014 Impacting 2015

2014 was a notable year for tax developments on a number of fronts. Selecting the “top ten” tax developments of 2014 requires judgment calls based on a number of factors including forward-looking impact on 2015 and beyond.  Please feel free…

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IRS Repeats Warning about Phone Scams

The Internal Revenue Service and the Treasury Inspector General for Tax Administration continue to hear from taxpayers who have received unsolicited calls from individuals demanding payment while fraudulently claiming to be from the IRS. Based on the 90,000 complaints that…

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Is Your Student’s Athletic Scholarship Taxable?

Do Recent Rulings Make Your Student’s Athletic Scholarship Taxable? The IRS, in a just-released “information letter,” described the tax treatment of college athletic scholarships. The IRS reiterated that because an individual is treated as an employee for labor law purposes, …

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