News Alert: Foreign Account Reporting Deadline
The Department of the Treasury has announced a new deadline for filing Reports of Foreign Bank and Financial Accounts (FBAR). The deadline has been moved to April 15th of each year, to coincide with the federal income tax filing deadline. Filers who fail to meet the FBAR annual due date of April 15 will be…
Stay Alert: Tax Season Fraud
Last year, fraud rose to unprecedented levels. IRS estimates indicate a 400% increase in phishing and malware incidents during the 2016 tax season. Criminals are finding more and more ways to sidestep the safeguards put in place. The IRS has compiled some resources for consumers heading into tax season. Here are the some fraud attacks…
How to Keep Your 2017 Resolutions
Happy 2017! Hopefully, this year will be filled with good health and prosperity, both for you and your business. Have you made any resolutions? It’s common to head into the new year with ambitious goals, however, it’s estimated that only 8% of those who make resolutions actually keep them. In a new Fast Company article,…
2017 Business Risks
Hopefully, 2017 will be a year of great prosperity for you and your business. What risks will businesses face in the coming year? CPA Practice Advisor’s managing editor Isaac O’Bannon reports on the findings of a new study examining these risks. “Recent global uncertainties and their potential effects on businesses are top of mind for…
Mileage Rates to Change in 2017
The IRS has announced mileage rates for 2017, some of which are lower than 2016 rates. Here are some of the details from Journal of Accountancy: For business use of a car, van, pickup truck, or panel truck, the rate for 2017 will be 53.5 cents per mile, down from 54 cents per mile in…
What Type of Networker Are You?
It’s a common misconception that there’s only one type of networking style. In Jessica Stillman’s recent Inc. article, she explains the three types of networkers: Player: this is the one most people associate with successful networking. They thrive in social situations and enjoy meeting new people. They are outgoing, attending lots of events and cultivating…
Tax Alert: Refund Delays in 2017
The Internal Revenue Service (IRS) has issued a reminder that it will be delaying refunds for taxpayers claiming the Earned Income Tax Credit (EITC) or the Additional Child Tax Credit (ACTC). The delay is meant to give the IRS more time to detect fraudulent tax refunds, which have become a growing problem in recent years….
CHANGES TO TAX LAW UNDER TRUMP ADMINISTRATION
President-elect Donald Trump campaigned on the promise of tax reform. Now that he’s been elected, what changes can we expect to see when he takes office in 2017? Based on his campaign proposals, here’s what to look for: Trump has promised tax cuts of up to 33% and the elimination of several tax brackets. He…