Feb 8, 2015 | Tax Legislation
Read our Summary of Revised Repair Regulations. [Name of my company or client] Capitalization Policy 1. Purpose This accounting policy establishes the minimum cost (capitalization amount) that shall be used to determine the capital assets that are to be...
Feb 8, 2015 | Tax Legislation, Tax Planning and Preparation
As we head into the 2014 filing season we wanted to make you aware of important IRS changes that may impact your business. The IRS has laid out new rules regarding the tax treatment of amounts paid to acquire, produce, or improve tangible property. The IRS rules...
Jan 8, 2015 | Tax Legislation
Optional standard mileage rates for use of a vehicle will go down slightly per mile for 2014. Taxpayers can use the optional standard mileage rates to calculate the deductible costs of operating an automobile. For business use of a car, van, pickup truck, or panel...
Sep 17, 2014 | Tax Legislation
Recently the IRS adopted a document, known as the Taxpayer Bill of Rights, to help taxpayers understand their rights while dealing with the IRS. Taxpayers receiving any correspondence from the IRS during the 2014 calendar year will start to see documentation included...
Aug 11, 2014 | Tax Legislation
On July 14, 2014, Massachusetts Governor Deval Patrick signed House Bill 4001, which requires the Commissioner of Revenue to establish a tax amnesty program. Since the signing of the bill in July, the Commissioner announced that the amnesty program will take place for...
Jan 7, 2013 | Latest Tax Developments, Tax Audit Representation, Tax Code, Tax Legislation, Tax Planning and Preparation
Dear Client, The recently enacted 2012 American Taxpayer Relief Act is a sweeping tax package that includes, among many other items, permanent extension of the Bush-era tax cuts for most taxpayers, revised tax rates on ordinary and capital gain income for high-income...
