ARTICLES

Unless you've found a way to live without the news media, you've already heard that the U.S. Supreme Court upheld most of the Patient Protection and Affordable Care Act of 2010, as amended by the Health Care and Education Reconciliation Act of 2010...

The IRS Chief Counsel has denied the domestic production activities deduction to a company that sells online software. The domestic production activities deduction (DPAD) is available for domestic production gross receipts from the lease, license,...

If you care for an aging relative, you may be able to claim certain expenses related to the relative's care on your tax return.  Here are some tips that could save you some tax dollars this year: Claim older adults as dependents - If you...

An Oregon woman has been charged with tax fraud. How did she allegedly do it? She bought herself a home-use tax preparation program. She prepared and electronically filed an Oregon state income tax return erroneously showing $3 million of income...

The IRS has updated its rules concerning businesses whose employees receive tips from customers as part of their compensation - primarily affecting restaurants and certain other businesses. As a general rule, employees who receive tips must pay...

A recent decision of the Second Circuit Court of Appeals has allowed deductions for a charitable contribution of a façade easement and a related cash contribution, which previously had been disallowed by the Tax Court. In 2003, Huda Scheidelman...

If your company has discovered the advantages associated with hiring older workers - like know-how, experience, work ethic, etc. - you may be interested in the conclusion articulated by the IRS in its spring 2012 issue of Retirement News for...

If your child recently graduated from high school or college and is starting a full-time job with benefits, now is a good time to review relevant tax issues. New hires should make sure they set the right level of withholding. They are asked to...

Your parents always told you there is no such thing as a free lunch. In Vermont, the tax collectors apparently decided there was no such thing as a free toothbrush either. As reported by WPTZ News in Burlington, Vt., the state legislature had to...

In a case that trounces any semblance of fairness, the Tax Court has denied more than $4 million in charitable contribution deductions claimed by a couple who had undervalued the contribution. Joseph Mohamed is a real estate broker, a certified...

In a recent case, the Tax Court allowed a gift tax annual exclusion for gifts of interests in a family limited partnership. The gift tax annual exclusion is available only for gifts of present interest, not for gifts of future interest. A present...

You may be familiar with Roth IRAs, but do you know that some employer-sponsored retirement savings accounts, like 401(k) plans, also offer a Roth alternative? Few people choose that option because they have to pay tax currently on the amount that...