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Computing Depreciation

Posted on Wednesday, July 16, 2014

The simple concept of depreciation can get complicated very quickly when one is trying to determine the proper depreciation deduction for any particular asset.

Self Employment Tax

Posted on Wednesday, July 16, 2014

Taxpayers who are self-employed must pay self-employment tax on their income from self-employment. The self-employment tax applies in lieu of Federal Insurance

Individual Fund Raising Accounts

Posted on Wednesday, July 16, 2014

Booster clubs everywhere hold fund raisers (scrip sales, candy sales, cookie sales, car washes, etc.) to raise money for students to participate in programs or

Single Audits

Posted on Wednesday, July 02, 2014

Each year the Federal government provides grants to non-Federal entities (state and local governments and nonprofit organizations).  To ensure that the

Donated Stock

Posted on Wednesday, June 18, 2014

In addition to cash contributions, nonprofit organizations may also receive noncash gifts.  The most common noncash contribution is stock.

Selling Vacant Land Can Bring A Tax Break

Posted on Tuesday, June 10, 2014

You probably know that you can exclude up to $250,000 of gain ($500,000 for most joint filers) when you sell your principal residence. IRS regulations may now

Employee Attitudes Affect Customer Service

Posted on Tuesday, June 10, 2014

The quality of the customer service your company provides will have an effect on the net profit of your business. Even with the best of intentions, many

FBAR Deadline Is June 30

Posted on Tuesday, June 10, 2014

If you hold foreign bank or financial accounts and the total value of your account exceeds $10,000 at any time during the calendar year, you may be required to

More Accounting Method Changes Required Under New Capitalization Rules

Posted on Friday, June 06, 2014

The IRS has granted automatic consent to taxpayers (Rev. Proc. 2014-33) to change their accounting methods for sales-based royalties and sales-based vendor

HSA Contribution Amount Increases For 2015

Posted on Friday, June 06, 2014

Taxpayers who have health savings accounts (HSAs) connected with high-deductible health plans (HDHPs) may make slightly higher tax deductible contributions for

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