Senators Express Concern about Accrual Accounting Proposal

{ on Friday, August 8, 2014 in Business Consulting, Tax Planning & Consulting, Uncategorized } New York (August 7, 2014)   By Michael Cohn Nearly half the members of the U.S. Senate have signed a letter expressing concern about a tax reform proposal to require the use of accrual accounting and are urging the leaders of the Senate Finance Committee to preserve the option of the cash method of accounting {}

What are your chances of being audited? IRS’s 2013 data book provides some clues

{ on Wednesday, March 26, 2014 in Blog, Business Consulting, Tax Planning & Consulting } IRS has issued its annual data book, which provides statistical data on activities conducted by IRS from Oct. 1, 2012, to Sept. 30, 2013, and includes information about returns filed, taxes collected, enforcement, taxpayer assistance and IRS’s budget and workforce. In addition, the data book provides valuable information about how many tax returns IRS examines {}

Governor proposes $100 million tax cut on business rents

{ on Wednesday, January 29, 2014 in Blog, Business Consulting } Tax Cut on Business Rents Taking the final bite out of his commitment to eliminate $500 million in taxes and fees for the upcoming legislative session, Gov.Rick ScottĀ announced Tuesday a proposal to cut sales taxes on commercial rents.The savings to Florida businesses: $104 million, according to a statement issued by Scott’s office. The governor’s budget {}