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Support for Your Charitable Contributions: Rules for Reporting Cash and Property Deductions

It’s that time of year when we start gathering tax documents to put together our 2015 individual tax returns. Most of the documents that support

Reminder: North Carolina Information Reporting Requirement

On September 18, 2015, North Carolina Governor Pat McCrory signed H.B. 97, which provides for a three-year phase-in of the single sales factor method for

Can Over-the-Road Truck Drivers Establish a Tax Home?

With the tax deadline steadily approaching, taxpayers should begin to assess their business expenses to determine if they are eligible for any itemized

After You Buy a Round, Don't Forget the Receipt: What You Need to Know for Your Meals & Entertainment Expenses

When we are in entertainment mode, we take pride in buying a round of drinks for our friends. However, you should not forget the receipt and remember who
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IRS Withdraws Proposed Regulations for Substantiating Charitable Contributions

On November 11, 2015, we posted “our thoughts” on new rules for substantiating charitable contributions proposed by the Internal Revenue Service.

Update on Educational Improvement Tax Credits (EITC) in Pennsylvania

The uncertainty surrounding Pennsylvania’s Educational Improvement Tax Credits (EITC) program, triggered by this year’s state budget impasse,
Tax
Douglas Papa | 1.25.2016

Enhanced Research and Development Benefits to a Small Business

Small business taxpayers may get new benefits in 2016 relating to research and development tax credits. For tax years beginning after December 31, 2015,
Retail, Tax
Carl Scharf | 1.22.2016

Updating Your Retail or Restaurant Space? What You Need to Know About IRS Revenue Procedure 2015-56

It appears that everywhere we look businesses operating in the retail and restaurant industry are remodeling or refreshing their space in order to stay
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Lower Refunds on Excise Tax for Propane Users

On December 18, 2015, President Obama signed into law the Protecting Americans from Tax Hikes Act (PATH), which made permanent certain tax provisions that

Record Low Oil Prices Affect Standard Mileage Rate and Social Security Benefits

Oil prices continue to plummet due to record production and weak demand. Production increases in North America are attributable to the various shale plays
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