The AICPA has asked the IRS to be kind to tax payers who haven’t had enough taxes withheld from their checks or haven’t prepaid enough of their taxes. The Tax Cuts and Jobs Act made substantial changes to the way our taxes work, but many Americans didn’t make the corresponding changes to their withholding to […]
AICPA Asks IRS to Reduce Tax Underwithholding Penalties Read More »
[vc_row][vc_column][vc_column_text]Tax reform has had a significant impact on the tax deductions you can now claim for business entertainment and meals. The chart below shows you how the Tax Cuts and Jobs Act treats 12 meal and/or entertainment events. [/vc_column_text][vc_single_image image=”1870″ img_size=”full” add_caption=”yes” style=”vc_box_shadow” css_animation=”zoomIn”][/vc_column][/vc_row]
Helicopter View of Meals and Entertainment After Tax Reform Read More »
City’s Net Assets Plunge by over $1 Billion A few days before Christmas, the City of Houston released its Comprehensive Annual Financial Report (CAFR) for FY2017-2018. In recent years, the City’s standard operating procedure has been to release the CAFR over the holidays to minimize the attention it will receive because the news is generally
City of Houston Net Assets Plunge by $1 Billion Read More »
Taxpayers will be able to file federal income taxes starting next filing season on a new postcard-sized Form 1040. The IRS officially released the draft 2018 Form 1040 on June 29. Draft Form 1040 The new Form 1040 will be finalized this summer as IRS works with the tax professionals to finalize the form. The
IRS Unveils New Draft Form 1040 Read More »
IRS Rules for Deducting Your Business Gym If you have been thinking about the fitness of your employees and the possibility of a gym or other athletic facility, then you need to know the tax rules. To be tax deductible, your gym or other athletic facility must be primarily for the benefit of your employees—other
June Tax-Saving Tips Read More »
In times of yore, children were warned that television would rot their brains. Today, though, there’s an impressive selection of edutainment, programming that both teaches and tantalizes. These shows have given many children an entrepreneurial edge that will serve them well the rest of their lives. This AICPA Insights article shares a shortlist of shows
5 TV shows to teach your kids about business Read More »
The Internal Revenue Service released a new five-year Strategic Plan outlining goals to improve taxpayer service and tax administration. The Fiscal Year 2018-2022 IRS Strategic Plan will serve as a roadmap to help guide the agency’s programs and operations. The plan will also help meet the changing needs of taxpayers and members of the tax community.
IRS issues new Strategic Plan; five-year plan’s goal to help taxpayers Read More »
All, please see the great events in May related to the College of Engineering. Much to be thankful for!! As I was recollecting some of my recent HBU memories this morning, I came to observe a pattern of Memories and Miracles in May as seen below: • May 28, 2015 Dr. Sloan began a
Memories and Miracles in May Read More »
“Phase Two” of Tax Reform – May, 2018 President Donald Trump and the House’s top tax writer think Congress and the president should work to make the tax code better every year. House Ways and Means Committee Chairman Kevin Brady, R-Tex., said in an interview this week that he and the president share this goal and
“Phase Two” of Tax Reform – May, 2018 Read More »
Proving Travel Expenses after Tax Reform As you likely know by now, your travel meals continue under tax reform as tax-deductible meals subject to the 50 percent cut. And tax reform did not change the rules that apply to your other travel expense deductions. One beauty of being in business for yourself is the ability
April Tax-Saving Tips Read More »
