In recent years, the popularity of partnership filings have increased as this entity type has grown. Partnerships provide a number of key benefits to business owners, including flexibility as well as operational, legal, and tax benefits. The IRS however, has found it both costly and burdensome to audit partnerships, and
Tax professionals and taxpayers need to be on high alert concerning a recurring scam involving fake CP2000 notices that are being mailed (via U.S Post Office) to taxpayers under the guise that taxes related to the Affordable Care Act are due. This scam is significant because, by using the U.S.
Sometimes a situation occurs when individuals and businesses complete a transaction or series of transactions, and inform their tax advisor after the fact. Then, when the advisor crunches the numbers, he/she determines that the seemingly benign transaction triggers a substantial amount of income tax. In fact, the size of the
Many businesses share in the challenge to be compliant with the most recent sales tax laws. Having the proper insight and awareness as to what legislation is in place and what’s coming down the pipeline requires a significant investment of time and resources. Laws and applicability are established at the
This year, when you file your 2014 return, you may notice a few new tax forms that need to be completed. The new forms reflect the additional compliance requirements mandated by the Affordable Care Act. Now that it has become part health law and part tax law, you will either
Many Kentucky business owners are delightfully surprised to learn about the generous incentives offered to business. These incentives and tax credits are available for typical day to day activities, such as hiring new staff and technology upgrades and improvements to less common business activities, like large-scale recycling endeavors. To help