News

With hurricane season underway, IRS warns of scams related to natural disasters

Source: irs.gov - Jun 18, 2018

IR-2018-132, June 7, 2018 WASHINGTON ― With hurricane season underway, the Internal Revenue Service is reminding taxpayers that criminals and scammers often try to take advantage of the... Read more >

Category: General Business

Planning ideas from Form 1040 (and beyond)

Source: journalofaccountancy.com - Jun 15, 2018

Form 1040, U.S. Individual Income Tax Return, is one of the most important documents that CPAs who do tax work will encounter. In addition to providing a view of the current tax situation, the form... Read more >

Category: General Business

5 IRA planning strategies to use now

Source: financial-planning.com - Jun 15, 2018

Here’s what will happen next year at tax time. Your client’s accountant will tell your client about all the tax planning that could have been done last year. But by then, it will already be too... Read more >

Category: General Business

The “Simplified” Kiddie Tax – Congress Has a Sense of Humor After All

Source: bna.com - Jun 15, 2018

As the 2017 tax act was making its way through Congress, most of us thought that Congress had a goal of simplifying the kiddie tax. Children with unearned income above a certain threshold would no... Read more >

Category: General Business

H&R Block closing 400 locations and lowers outlook

Source: money.cnn.com - Jun 15, 2018

H&R Block is everywhere -- and that's a problem. The company said it plans to close 400 smaller offices after it lowered its sales and profit margin outlook for the rest of the year. H&R Block's... Read more >

Category: General Business

To redevelop Six Flags, LaToya Cantrell wants another year

Source: nola.com - Jun 13, 2018

New Orleans Mayor LaToya Cantrell wants her shot at finding a developer for the abandoned Six Flags property in New Orleans East, and the Industrial Development Board has agreed to give her a year... Read more >

Category: General Business

Mourning over Morning Call's New Orleans City Park Beignet battle loss

Source: bayoubuzz.com - Jun 13, 2018

Prior to 2012, various concession stands operated at the Casino Building in City Park. None of them were very popular with park patrons. All of that changed in 2012, when Morning Call Coffee Stand... Read more >

Category: General Business

Businessman fined $1.2m, sent to jail for stealing employees' tax contributions

Source: delawareonline.com - Jun 13, 2018

The owner of a commercial cleaning company has been sentenced to 18 months in jail and ordered to pay $1.2 million in restitution after pleading guilty to withholding employees' tax contributions... Read more >

Category: General Business

Companies in Limbo as States Adjust Taxes to Federal Overhaul

Source: wsj.com - Jun 13, 2018

Businesses across the U.S. are paying more attention to state taxes, which have become a larger share of their total tax liability. While the federal corporate tax rate fell to 21% from 35% under... Read more >

Category: General Business

Does The Trump Tax Plan Make It Dumber To Pay Off Your Mortgage?

Source: forbes.com - Jun 12, 2018

Big changes to your mortgage and taxes are coming, thanks to the GOP tax plan. These include limiting the deductions for property taxes and lowering mortgage limits from $1 million to $750,000 on... Read more >

Category: General Business

Amazon flexes its muscles and Seattle backs down on a business tax

Source: cnbc.com - Jun 12, 2018

Amazon balked and Seattle is backing down. City leaders said they plan to repeal a tax on large companies such as Amazon and Starbucks as they face mounting pressure from businesses, an about-face... Read more >

Category: General Business

Exempt from cuts? Louisiana lawmakers shielding their budget from major slashing

Source: theadvocate.com - Jun 12, 2018

As they weigh steep cuts across state services, Louisiana lawmakers have fully funded their own budget so legislative agencies are poised to escape reductions in three weeks, even as those agencies... Read more >

Category: General Business

For these state programs and services, Louisiana's fiscal cliff is getting closer

Source: nola.com - Jun 11, 2018

The Louisiana Legislature will make its third attempt at avoiding dramatic state budget cuts next week when it enters yet another special session. This time though, what's at stake won't be as... Read more >

Category: General Business

The 10 biggest tax breaks for individuals

Source: money.cnn.com - Jun 11, 2018

The overhaul of the US tax code was supposed to make taxes simpler and more streamlined. Nearly doubling the standard deduction was a move in that direction. But the changes did very little to... Read more >

Category: General Business

Beware of hidden taxes in retirement

Source: seattletimes.com - Jun 11, 2018

Your taxes in retirement may be a lot more complicated than taxes while you’re working. Social Security checks may or may not be taxed, depending on your income. You’ll pay federal income... Read more >

Category: General Business