December 2019
Higher Ed Institutions Affected by Proposed Regulations
Proposed regulations were issued by the IRS on June 18, 2019, regarding the new 1.4 percent excise tax on the net investment income of certain private colleges and universities. While the new excise tax [...]
List of Preventive Care Benefits Expanded for HSA
The list of medical care services for a range of chronic conditions allowed to be provided by a high deductible health plan (HDHP) was expanded effective July 17, 2019. These medical services and items [...]
Two New Tax Scams to Watch out For
Although the April filing deadline has come and gone, scam artists remain hard at work. As such, taxpayers should be on the lookout for scams that reference taxes or mention the IRS, especially during [...]
Who Can Represent You Before the IRS?
Many people use a tax professional to prepare their taxes. Anyone who prepares, or assists in preparing, all or substantially all of a federal tax return for compensation is required to have a valid [...]
Three Tips for Getting an Accurate Business Valuation
If you're conscientious about financial reporting, you may already have a sense of your company's worth, but in some instances, you might need a formal business valuation, such as: Certain transactions: Are you selling [...]
Tax Deductions for Teachers and Educators
Educators can take advantage of tax deductions for qualified out-of-pocket expenses related to their profession such as classroom supplies, training, and travel. As such, as the new school year begins, teachers, administrators, and aides [...]