News

ExxonMobil's CEO asked to withdraw tax break requests groups say would cost $6.2 million

Source: theadvocate.com - Aug 17, 2018

Opponents of giving industries breaks on their school property taxes in Louisiana have publicly requested a meeting with the CEO of ExxonMobil and asked that he withdraw all pending tax exemption... Read more >

Category: General Business

More small businesses can now use cash accounting: IRS

Source: accountingtoday.com - Aug 8, 2018

Small-business taxpayers with average annual gross earnings of $25 million or less in the prior three-year period are now allowed to use the cash method of accounting, according to new guidance... Read more >

Category: General Business

IRS Expands Campaign Against Identity Theft, Tax Fraud

Source: bna.com - Aug 8, 2018

Two-factor authentication for email accounts should be applied by payroll and tax professionals, who also should be vigilant in recognizing suspicious electronic correspondence, according to an... Read more >

Category: General Business

IRS Targets Loopholes for $415 Billion Business Owner Tax Break

Source: bloomberg.com - Aug 8, 2018

The Internal Revenue Service provided some long-awaited answers for business owners hoping to dodge the limits on a juicy new tax break. The IRS’s proposed regulations make it clear that the... Read more >

Category: General Business

IRS Issues Proposed Regulations On Section 199A Deduction For Solos & Pass-through Businesses

Source: forbes.com - Aug 8, 2018

When Congress tackled tax reform last year, the tax treatment of businesses was front and center. The new tax law permanently lowered the tax rate for corporations to 21% while rates typically... Read more >

Category: General Business

Industrial tax breaks now come with hiring, wage criteria after OPSB vote; will city do the same?

Source: theadvocate.com - Jul 27, 2018

Industrial projects will have to meet specific hiring and wage criteria to get breaks on their school property taxes in New Orleans under rules adopted last week by the Orleans Parish School Board.... Read more >

Category: General Business

No more tax free weekends in Louisiana

Source: myarklamiss.com - Jul 27, 2018

BATON ROUGE, La. (WVLA) - Back to school shopping is right around the corner, but this year there will not be a statewide sales tax exemption. In previous years Louisiana residents have enjoyed 3... Read more >

Category: General Business

Congress And Trump Are Spending Money And Cutting Taxes Like There Is No Tomorrow

Source: forbes.com - Jul 27, 2018

What is the difference between Chicago mayoral candidate Willie Wilson, and President Trump and Congress? Wilson, you may recall, spent last Sunday handing out an estimated $200,000 in crisp new... Read more >

Category: General Business

House passes repeal of medical device tax

Source: taxprotoday.com - Jul 27, 2018

The House approved a repeal of the Affordable Care Act’s medical device tax, along with a bill that prohibits the IRS from rehiring any employee who was fired for misconduct. Implementation of... Read more >

Category: General Business

The GOP tax law will make churches and nonprofits pay taxes for the first time

Source: theweek.com - Jun 26, 2018

Churches, synagogues, and other nonprofits are subject to a new 21 percent tax on some types of employee benefits (like parking, transit passes, and gym memberships) under the GOP tax reform plan,... Read more >

Category: General Business

19 winners and losers in Louisiana's budget and tax battles

Source: nola.com - Jun 26, 2018

After over two years of gridlock, Gov. John Bel Edwards and the Louisiana Legislature finally reached a consensus Sunday (June 24) on how to bring stability to the state's finances. Lawmakers... Read more >

Category: General Business

With tax deal, stable years ahead for Louisiana's finances

Source: brproud.com - Jun 26, 2018

BATON ROUGE, La. (LOCAL 33) (FOX 44) - Louisiana Gov. John Bel Edwards is poised this week to sign the state's longest-term revenue fix in a decade. The proposal to levy a 4.45 percent sales tax... Read more >

Category: General Business

What You Should Know About Taxes And Student Loan Repayment

Source: forbes.com - Jun 26, 2018

Last month, borrowers across the country were pretty excited to learn that hundreds of millions of dollars in student loans were potentially eligible for student loan forgiveness. As part of the... Read more >

Category: General Business

Postcard-size 1040 tax form to be released next week

Source: taxprotoday.com - Jun 22, 2018

Treasury Secretary Steven Mnuchin said his department will be releasing a postcard-size Form 1040 next week, fulfilling one of the promises of last December’s tax overhaul. “Next week, we will... Read more >

Category: General Business

Make $100,000? Here's where you're likely to get the biggest tax cut

Source: money.cnn.com - Jun 22, 2018

What was true of the old tax code is still true of the new one: Two people who make the same income could still have very different federal tax bills. That same principle also applies to the... Read more >

Category: General Business