Practice management

Many family run businesses have parents and children who perform excellently together, and I have worked with many proud companies. However, occasionally there is a stumbling block, in that a parent and child cannot just get it together. What to do?

A roundup of our favorite recent tax fraud cases.

Rebecca Newton-Clarke, a senior editor/author at Thomson Reuters’ Checkpoint, discusses in this video the wide range of transaction types in e-commerce -- and how states approach taxing them..

Not everyone is a fan of Congress’ plan to have the Internal Revenue Service use outside agencies to collect unpaid taxes. (See “Highway Bill Would Revive Private Collection of Tax Debts.”)

A permanent exclusion for qualified SMB stock means big change

The House Ways and Means Committee has passed three bills related to the Internal Revenue Service in the areas of taxpayer identity theft, recovery of missing children, and donor information for tax-exempt organizations.

Investors have been taught by our elders since time immemorial to live by the adage, “Buy low, sell high.”

Rebecca Newton-Clarke, a senior editor/author at Thomson Reuters’ Checkpoint, discusses in this video the corporate income tax implications of e-commerce and how to deal with the lack of guidance from most states on taxation of e-commerce transactions, including issues such as nexus and apportionment.

The Internal Revenue Service has issued inflation-adjusted deduction limits for health savings accounts next year.

The Internal Revenue Service reported that the average annual tax gap has increased to $458 billion for tax years 2008-2010, compared to $450 billion for tax year 2006.

Tax pros shares the different ways they relax after April 18 — and how many of them get right back to work

The Internal Revenue Service plans to make changes in its procedures and computer systems to better identify a taxpayer’s outstanding tax debts and subtract them from the tax refunds they receive, particularly for owners of small businesses.

Jim Boomer will succeed his father L. Gary Boomer as CEO of Boomer Consulting, Inc., as part of a long-term succession plan that has been underway for the last seven years and includes several other big moves at the prominent accounting firm consultancy.

Chevron Corp. used a shell company in a tax haven to escape hundreds of millions of dollars in Australian taxes, according to a 2015 court ruling. The subsidiary, which allowed Chevron to eliminate Australian taxes on $1.7 billion in profit earned there, wasn’t secreted away on a remote tropical island—it was set up in the very mundane locale where corporate secrecy was born: Delaware.

TaxAct plans to launch a new sweepstakes next week for tax professionals to celebrate the end of tax season.

Texas storm victims, including those in the Houston area, have until September 1 to file their returns and pay any taxes due, the IRS said.

Market segmentation and why your firm should be doing it

REDW LLC, one of the Southwest’s 10 largest accounting firms, has elected Steve Cogan as managing principal, succeeding Ron Rivera, who has served as firm-wide managing principal for the past 15 years.

Highlights of some of our favorite tax-related blogs from the past week.

As a general rule, the cost of commercial real estate improvements is recovered over a painfully long period of 39 years via straight line depreciation only.