News / General Business

Unusual Tax Breaks, Tax Deductions, and Tax Exemptions

Source: efile.com - Feb 6, 2018

The United States tax code allows for many unusual but legitimate tax deductions, tax credits, and exemptions. Here is a sampling of some of the more noteworthy unusual tax breaks that have been... Read more >

Category: General Business

US economy fundamentally strong despite stock market plunge

Source: abcnews.go.com - Feb 6, 2018

A wave of fear about inflation and higher interest rates has sent stock prices tumbling and raised concerns about corporate profits. On Monday, a plunge of over 1,100 points in the Dow Jones... Read more >

Category: General Business

Are Trump's tax cuts backfiring on Wall Street?

Source: money.cnn.com - Feb 6, 2018

Be careful what you wish for. Wall Street partied hard while President Trump pushed for huge business tax cuts that the economy didn't really need. Tax cut euphoria carried the Dow a breathtaking... Read more >

Category: General Business

Developer Calls ‘Action’ On New Film Studio

Source: myneworleans.com - Feb 5, 2018

In its long-running competition with other states to attract new business and high-quality employment, Louisiana has used many types of job “bait.” Louisiana taxpayers have invested hundreds of... Read more >

Category: General Business

Luxury taxes loom large for Cavaliers, LeBron James ahead of NBA trade deadline

Source: cleveland.com - Feb 5, 2018

CLEVELAND, Ohio -- When LeBron James and Dan Gilbert met in the summer of 2014 to discuss James' return to the Cavaliers, the luxury tax was a topic of discussion. Would Gilbert be willing to pay... Read more >

Category: General Business

If you prepaid property taxes to beat the Trump tax law, here's 3 things you need to know

Source: northjersey.com - Feb 5, 2018

Thousands of New Jersey homeowners rushed in December to prepay 2018 property taxes before 2017 ended, hoping to outsmart a new $10,000 cap on the federal deduction that was a controversial piece... Read more >

Category: General Business

Here's How Much the Eagles Could Owe in Taxes for Their Super Bowl Win

Source: time.com - Feb 5, 2018

Winning the Super Bowl confers glory, prize money — and, this year, a hefty tax bill from the state of Minnesota. The prize money NFL players earn for playing in Super Bowl LII is relatively... Read more >

Category: General Business

No mistake: Bigger paychecks surprise many workers after federal tax overhaul kicks in

Source: theadvocate.com - Feb 3, 2018

Sanders Offner has had good news for most clients calling lately with questions after noticing a higher-than-usual take-home pay. It wasn't a mistake. "The phone calls that we get primarily are... Read more >

Category: General Business

Bigger paychecks could have bigger tax bill, experts warn

Source: nbcnews.com - Feb 3, 2018

Americans could start seeing a bump in their paychecks as early as this week thanks to the new tax legislation, but lurking in that extra $50 or $100 is the prospect of a big tax bill come April... Read more >

Category: General Business

The tax cut is a $6 billion gift to Exxon

Source: money.cnn.com - Feb 3, 2018

The tax windfall helped Exxon's (XOM) net profits surge fivefold, the world's largest publicly traded oil company said on Friday. Excluding the tax bonanza, Exxon's results left Wall Street... Read more >

Category: General Business

Here is another — totally legitimate — way to shield money from taxes

Source: washingtonpost.com - Feb 2, 2018

I am jealous. Any time you can protect your money from the tax man, I want in. George Papadopoulos is 50 years old and has a tax-free stash to cover health care expenses that is close to $100,000... Read more >

Category: General Business

Do You Need To File A Tax Return In 2018?

Source: forbes.com - Jan 25, 2018

Tax season opens on Monday, January 29, 2018. The Internal Revenue Service (IRS) expects to process nearly 155 million individual tax returns in 2018. Will you be filing one of those returns? And... Read more >

Category: General Business

Gig-job workers had better beware of pay-as-you-go tax payments

Source: cnbc.com - Jan 25, 2018

Workers who venture into the world of side hustles or gig jobs might get an unwelcome surprise when they file their tax returns: an unexpected tax penalty. Independent workers — those who don't... Read more >

Category: General Business

Information That CPA’s Need To Prepare Taxes

Source: whttps - Jan 25, 2018

Certified Public Accountants (CPAs) are incredibly busy during tax season. Their time is precious, even more so this year with the passage of the Tax Cuts and Jobs Act. That makes it even more... Read more >

Category: General Business

3 Obamacare taxes, including one on higher-value plans, are suspended in deal to end shutdown

Source: cnbc.com - Jan 24, 2018

Three Obamacare taxes have been put on ice — for now — by the deal that ended the shutdown of the federal government. The stopgap spending deal reached by Congress on Monday suspended... Read more >

Category: General Business