Avoiding Sales Tax By Buying Online

Of all the taxes paid in the United States, sales tax is perhaps the easiest to understand.  Unless you live in one of the five states that do not collect sales tax (Alaska, Delaware, Montana, New Hampshire, and Oregon), you are quite used to going down to the store and paying the sales tax on […]

How Big Companies Avoid Big Tax Bills

Minimizing taxes is every person and company’s goal.  Individuals have various ways to avoid tax legally by using structured tax shelters or changing their place of residence.  Multinational corporations, meanwhile, have found increasingly ingenious ways to exploit loopholes in international tax rules in order to reduce their taxes.   Apple Inc., for example, whose corporate headquarters […]

New Proposed Tax Reform from Dave Camp

Lower tax rates?  Not really.  The outgoing chairman of the House Ways and Means Committee, Dave Camp (R-Michigan), put forth on Wednesday his proposal for a simplified tax code.  Like any broad tax reform plan, Camp’s plan contains much for both Democrats and Republicans to embrace and much for them to oppose.  The effects on […]

Newest Obamacare Delay for Mid-Size Businesses

In the latest big delay of the Obamacare rollout, the Treasury Department announced yesterday that many employers won’t face a fine next year if they fail to offer employees health insurance. Under the original 2010 Affordable Care Act, employers with the equivalent of at least 50 full-time workers had to offer health coverage or pay […]

Tax Issues For Small Business in 2014

Taxes are, historically, the number one issue business owners identify as a potential challenge to their businesses.  2014 is proving to be no exception to this rule.  A number of professional surveys of small business owners, the National Federation of Independent Business (NFIB) among them, indicate uncertain tax policy and rising tax rates are at […]

Do expired tax provisions have a chance of coming back?

Each year, on December 31, a collection of “temporary” tax breaks, credits and deductions expires. Congress usually plans on extending those tax items, but doesn’t always do so in time. It’s an odd annual tradition, really. On 12/31/13, Congress let about 55 tax breaks expire. The full array includes everything from energy tax breaks to […]

Changes in Lease Accounting

It is quite common for businesses to lease assets for their operations.  Organizations of all shapes and sizes – retailers, airlines, even professional services firms – make use of leasing. But businesses that lease property and equipment may soon have to start treating those leases differently on their balance sheets. Under current regulations, when a […]

Economic Forecast for 2014

When will the economy finally stop trudging along? It’s the question I get most often and the one that increases in frequency as we approach year’s end. While I have no certain predictions for 2014, I am cautiously hopeful. There are both good and bad indicators when it comes to the current economy, and all […]

Tax Law Changes – A Recap

While there have been many discussions on tax law, we felt that as 2013 comes to a close it would be important to inform our clients and friends of the tax law changes that are here as part of 2013. While many aspects of the Affordable Health Care Act have been delayed, it is important […]

Recent Government Shutdown

Congress came to an agreement last Wednesday which pulled the country from the brink of debt default and ended the two-week government shutdown. It’s a temporary fix, however. Wednesday’s deal funds the federal government only through January 15th and extends the federal government’s borrowing authority through February 7th. A true, long-term budget deal has not […]