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05Jun

IRS issues new Strategic Plan; five-year plan’s goal to help taxpayers

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.

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08May

Memories and Miracles in May

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 small

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07May

“Phase Two” of Tax Reform – May, 2018

“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

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April Tax-Saving Tips

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

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Federal and State Tax Highlights

House Approved Bipartisan IRS Reform Package, (Apr. 19, 2018) The House on April 18 approved the two largest bills of a bipartisan IRS reform package. The bills aim to restructure the IRS for the first time in 20 years. The 21st Century IRS Bill (HR 5445) was approved 414-to-0 and the Taxpayer First Bill (HR 5444)

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06Apr

Tax Reform: Big Win for C-Corporations

Tax reform made changes to the tax law that significantly impact the alternative minimum tax AMT. The changes could mean more money in your pocket and less going to the government. If you own a C corporation, then you are the big AMT winner: Tax reform completely eliminated AMT for C corporations. C corporations are

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06Apr

Tax Reform – April

S Corporation Fringe Benefits after the Recent Tax Reform Fringe benefits are usually a good thing—but there’s a catch when you own more than 2 percent of an S corporation. The good news? Federal tax law allows the cost of these fringes as deductible expenses for your S corporation. The bad news? You, the shareholder-employee

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06Apr

What travelers need to know about cybersecurity

What travelers need to know about cybersecurity Cultivating a relationship with the IT department is the best first step for executives concerned about cybersecurity while on the road. Technology and analytics In addition to the usual travel hassles, today’s executives on the go have an additional layer of worry: keeping their electronics and information safe.

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29Mar

Airline Boarding Pass Important Information

Destroy your hotel room keys and your boarding passes. Both contain routes to tons of your personal information, a treasure trove for hackers

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27Mar

AICPA requests immediate guidance from IRS and Treasury Department on deduction for qualified business income of pass-through entities

March 22, 2018 The American Institute of CPAs (AICPA) requested immediate guidance from the Internal Revenue Service (IRS) and U.S. Department of the Treasury on various issues regarding section 199A of the new Internal Revenue Code, the deduction for qualified business income (QBI) of pass-through entities. “Taxpayers and practitioners need clarity regarding QBI in order

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