Roger Russell

The minimum amount of contact between a taxpayer and a state that allows the state to tax the business on its activities is under attack as states seek to broaden its reach.

Tax professionals face a host of new issues for next tax season, starting right now

The Tax Court has allowed the entire amounts of $4 million and $7.3 million paid to sons of the founders of a concrete contracting business deductible as reasonable compensation.

With Thanksgiving approaching, we’re reminded of the goodness of giving to help the less fortunate by food banks, clothes for the needy, and many other worthy charitable organizations.

Donald Trump has already done the impossible by winning the presidency, but once he takes office he may have to do so again – by finding a way to pay for the across-the-board tax cuts he promised during his campaign.

If elections are all about economics, then the winner of next week’s presidential election will be Hillary Clinton.

The 2017 tax outlook for businesses

Earlier this week, I moderated an Accounting Today web seminar on Understanding Affordable Care Act Reporting: Year 2.

For tax preparers getting ready for tax season, the environment has changed, according to Annie Schwab, tax manager at Padgett Business Services.

Parsing the new partnership audit rules

A New Jersey Tax Court judge has sided with a couple who won $46 million in the state lottery in 2000 and elected to have their winnings distributed in annual installments as a multiyear annuity payment, holding that the state did not have the right to retroactively tax their winnings after passing a new statute.

Elections have consequences. While it’s clear that the next President will have his or her own agenda, and possibly the legislative power to back it up, predicting the future based on possible outcomes is risky. Still, the upcoming election, perhaps more than usual, is already affecting people’s contemplated behavior as they anticipate possible outcomes.

Although I live a few miles from Hofstra University, the site of Monday night’s Presidential debate, I didn’t have a ticket to the event. Instead, I spent the time trying to get to the Marriott next door, where viewers were promised the chance to meet one of the candidates afterward.

The Kentucky Court of Appeals has affirmed in part a decision by the Kentucky Circuit Court finding Grant Thornton liable for fraudulent misrepresentation in its selling of a tax shelter.

As both major Presidential candidates’ campaigns get into full gear, some of their positions on tax have become clearer, while others are still up in the air.

Inflation-adjusted tax brackets for the 2017 tax year, based on the average inflation index for the 12-month period ending on August 31, 2016, show a slight uptick for the year ahead, according to Wolters Kluwer’s George Jones.

For many preparers, checklists have replaced the cumbersome organizers, which most clients never completed anyway. But as we draw closer to year’s end, many preparers should be thinking about the things they need to pay attention to before filing season begins.

When I told my wife that I was working on the Apple story, she told me that it’s already been covered—in the Book of Genesis. She’s right, of course, since good versus evil permeates many of the issues in the current tax landscape.

Tax experts dig into the presidential candidates’ tax plans

The Tax Court ruled that an award for an employment discrimination settlement should be included in a taxpayer’s gross income – but that he could deduct his attorney’s fees in the case above the line.