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A new playing field for business

The Supreme Court’s decision on sales tax collection could give smaller companies that rely on in-store sales a better chance to compete with virtual retailers. For years, many shoppers in the United States had a choice: buy from an in-state…
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2018 Disaster Preparedness Sales Tax Holiday

The 2018 Disaster Preparedness Sales Tax Holiday was passed by the Florida Legislature and signed into law by Governor Rick Scott. This sales tax holiday begins Friday, June 1, 2018 and extends through Thursday, June 7, 2018. During this…
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Check withholding to avoid tax surprises

The Internal Revenue Service encourages taxpayers who typically itemized their deductions on Schedule A of the Form 1040 to use the Withholding Calculator this year to perform a “paycheck checkup.” People who have itemized before may…
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Businesses Get More Time to Challenge IRS Levies

Individuals and businesses have additional time to file an administrative claim or to bring a civil action for wrongful levy or seizure, according to the Internal Revenue Service. An IRS levy permits the legal seizure and sale of property…
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IRS gives taxpayers relief from erroneous HSA contributions

The IRS announced on Thursday that it is modifying the annual limitation on deductions for contributions to a health savings account (HSA) allowed for taxpayers with family coverage under a high-deductible health plan (HDHP) for calendar year…
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Only 32% of Businesses Say They’re Ready for Tax Reform Changes

The U.S. Tax Cuts and Jobs Act of 2017 is now in effect, but its implementation and impact on businesses is just starting to unfold. A survey of CFOs by financial recruitment firm Robert Half Finance & Accounting shows only about one-third…
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The ideal time to review your finances

With the income tax deadline behind them, many Americans are eager to file away their financial records until next year. But experts advise not putting those documents away just yet — now is an opportune time to review them, make any necessary…
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Americans’ financial satisfaction hits high mark

The AICPA’s Personal Financial Satisfaction Index (PFSi) reached a record high in the first quarter of 2018 — an indicator that Americans are still feeling positive about their financial situation, even despite recent stock market volatility.…
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Many corporations will pay a blended federal income tax

Many U.S. corporations elect to use a fiscal year end and not a calendar year end for federal income tax reporting purposes.  Due to a provision in the recently enacted Tax Cuts and Jobs Act (TCJA), a corporation with a fiscal year that includes…