With nearly a decade of economic expansion underway, it’s only natural to wonder when the cycle will turn to recession once again. Many analysts agree that a downturn is likely within the next couple of years and that companies should prepare sooner rather than later, so they can avoid being caught off guard when the economy slows.
Continue reading “Business Strategies for The Next Recession”
Federal legislators have proposed a major overhaul of the IRS, the first such reform since 1998, which is intended to modernize the agency and emphasize the service aspect of it’s mission. Backed by both Democratic and Republican members of the House Ways and Means Committee, the legislation is organized into nine divisions, covering a wide variety of topics ranging from information technology to taxpayer services to enforcement policies. The bill passed the House by and overwhelming majority in April, but it has yet to be introduced in the Senate.
Continue reading “Bipartisan Bill Would Overhaul IRS for First Time Since 1998”
More web purchases will be hit with sales tax, not that the Court has overturned a decades-old ruling that shielded sellers with no physical presence in the buyer’s home state from collecting sales tax.
Continue reading “State and Local Taxes”
S corporation owners have a key question: Is it time to switch to a regular corporation?
We’ll look at some factors that come into play.
Continue reading “S Corporations”
The new tax law may have lowered rates. But it also axed or pared back many breaks. Case in point…state and local tax deductions.
Continue reading “Axed or Pared Back Tax Breaks”