by apexcpas | Jul 4, 2018 | Tax Planning
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 and claiming a $2.1...
by apexcpas | Jul 4, 2018 | Tax Planning
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 income tax on the...
by apexcpas | Jul 4, 2018 | Tax Planning
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 applied to a charity to...
by apexcpas | Jul 4, 2018 | Tax Planning
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...
by apexcpas | Jul 4, 2018 | Tax Planning
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 complete Form W-4,...
by apexcpas | Jul 4, 2018 | Tax Planning
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 rein in aggressive tax...