Feature Article

On July 1, 2019, President Trump signed into law the Taxpayer First Act of 2019 (TFA), enacting changes to the IRS’s organizational structure, customer service, enforcement procedures, management of information technology, and use of electronic systems, with a focus on improving its int... Sidney Kess, JD, LLM, CPA, Steven I. Hurok, JD, CPA

Feature Article

Sales tax is imposed upon retail sales of tangible personal property and taxable services in 45 states and the District of Columbia. Each state determines the circumstances under which a sales tax is imposed on the purchaser. Purchases by nonprofit organizations are exempt in most... Katherine Gauntt

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In 2016, a new record was surpassed in private giving to charities. Individuals, estates, foundations, and corporations were estimated to have contributed a record $390 billion to U.S. nonprofits, according to a report published in 2017 by Giving USA Foundation, an initiativ... Kim Moore

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The 2017 Tax Cuts and Jobs Act (TCJA), signed into law on December 22, 2017, is favorable to businesses of all types – corporations, partnerships, and sole proprietorships. The TCJA reduced C corporation taxes to a flat rate of 21 percent, down from a gradua... Gil Charney, CPA/PFS, CFP, CGMA, CMA, MBA

Feature Article

This year, we get to deal with many tax changes. Members of Congress, as well as presidential candidates, stated that one of their goals was to simplify the tax code (U.S. Code title 26). And simplification has occurred to some extent with Public Law 115-97, also known as the Tax Cuts and Jobs Act of 2017 (TCJA). Congress made some issues simpler while creating at least one new issue that has confused many. Many popular de... David Mellem, EA

Feature Article

So far this calendar year there has been very little action by Congress involving tax matters. Maybe I should say there has been no final action by Congress on tax matters. Lawmakers have discussed and introduced many small bills, but nothing that has reached joint committee. The one exception is the Disaster Tax Relief and Airport and Airway Extension Act of 2017, which is discussed in the cover article. The items that were last exte... David Mellem, EA

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This may be the final year for the Affordable Care Act (ACA). The incoming administration has vowed to repeal and replace Obamacare as quickly as possible. With that being said, the purpose of this article is to update you on the ACA changes affecting your clients for the 2017 tax filing season. The changes that began in 2013 are intensifying in 2017. So strap yourself in and get ready for the new changes. Since this article was written in De... Ben A. Tallman, EA, USTCP

Feature Article

Congress did finally take action on the “extenders” last December, but it has not done very much this year. Some of the extenders were made permanent, and some were extended for a set period of time, such as two years. The items extended for two years are again expiring on December 31, 2016, and have so far not been extended further, which means we are again faced with uncertainty on these items. Form 1099 As we ... David Mellem, EA