Articles


Tax Planning

Posted by on Sep 17, 2012 in Articles |

Tax Planning Dramatic tax increases scheduled to go into effect in 2013 make 2012 tax planning imperative. The following taxes may be impacted: · Not only are the Bush Administration tax cuts set to expire, but a new 3.8 percent surtax on investment income and a possible reinstated claw-back of itemized deductions could raise the tax rate on ordinary income to as high as an effective 44.6 percent for some taxpayers. · Similarly, the tax...

Read More

Audits of Small Businesses – A Waste of Time

Posted by on Sep 17, 2012 in Articles |

Audits of Small Businesses – A Waste of Time Good news and bad news for those businesses that are S Corporations.  First the bad news- the amount of IRS Audits involving S Corporations has increased in recent years.  The good news-  a recent report by the Treasury Inspector General for Tax Administration (TIGTA) revealed that over 60 percent of S Corporation audits selected by the Discriminant Index Function (DIF) were closed with no...

Read More