Nov
01
2018
01
2018
Nov
01
2018
01
2018
2018 – SALT Limit Workarounds
The IRS has clarified that state tax credit programs, to which businesses can make payments in exchange for credits against various taxes, aren’t affected by the recent proposed regulations targeting state and local tax (SALT) limit workarounds. That’s true as long as the taxes are deductible under other code sections. These taxes include insurance premium tax, direct pay sales and use tax, corporate income tax and alcohol excise tax. Proposed IRS regs target SALT limit workarounds implemented in some high-tax states.
Oct
31
2018
31
2018
HBL Halloween 2018
Having fun on Halloween!
Oct
31
2018
31
2018
Tax Identity Theft
Tax identity theft: A horror story – AICPA Insights http://bit.ly/2JpD9dH
Oct
31
2018
31
2018
Oct
31
2018
31
2018
HBL CPAs helping out with the United Way Days of Caring for the Backpack Project
HBL CPAs helping out at the United Way Days of Caring for the Backpack Project October 30, 2018. Thank you to all who came out to help. There was a lot of unwrapping, ripping boxes, and stuffing (5,500 backpacks worth). Good job team! To anyone who wasn’t a part of the event, the backpacks were used as part of an art installation at the U of A to raise awareness of the 21,000 opportunity youth in Pima County.
Oct
31
2018
31
2018
Oct
30
2018
30
2018
Nonprofits: Here’s how to embrace accountability
Embracing accountability helps your nonprofit demonstrate openness and fulfill its fiduciary responsibility. Accountability starts with complying with applicable laws and rules and committing to using resources to support your mission. There can be no accountability without good governance, and that’s ultimately up to your board. Your board needs to understand the importance of its role and focus on big-picture items, not process-oriented details. Finally, communicate accountability with your annual report and Form 990.
Oct
29
2018
29
2018
Oct
29
2018
29
2018
Innocent Spouse Relief
In general, married taxpayers who file joint tax returns are jointly and individually liable for the tax due on them. But spouses may be eligible for “innocent spouse” relief if they can prove they didn’t know about a tax understatement. In one new case, the U.S. Tax Court ruled that a disabled ex-wife qualified for relief because she showed that it would be inequitable to hold her liable. She had been living apart from her ex-husband,
