Amid the 16 day government shutdown, we in the tax filing profession managed to survive. Not without some pain – the efile help desk was affected, which meant for those returns that had a mandatory efiling requirement, we could not … read more
This has been discussed before, but it was three ago, so time for an update! (To see that blog, click here.) If you’re selling your main home sometime this year, here are some helpful tips for you. Even if you … read more
Tax assessments are formally recorded on a record of assessment in accordance with Internal Revenue Code Section 6203. The assessment is made by an assessment officer signing the summary record of assessment per Treasury Regulation section 301.6203-1. The summary record … read more
On August 29, 2013 in IR-2013-72 and Revenue Ruling 2013-17, the Treasury and the IRS announced that same-sex couples legally married in a state or jurisdiction that recognizes same-sex marriages will be treated as married for federal tax purposes. This … read more
You are going on a business trip and bringing your spouse. It would be nice if you could deduct some of their expenses as well as your own, but is that allowed? The rules for deducting a spouse’s travel costs … read more
The job market is becoming increasingly competitive as more and more people seek new employment opportunities. Searching for a new job may be a daunting task, but the good news is you can deduct these expenses on your 2013 tax … read more
On August 7, 2013 the IRS released the first draft of the Form 8960 Net Investment Income Tax. Form 8960 will report the new 3.8% Medicare tax on net investment income and will be filed with the 2013 Form 1040 … read more
Small businesses sometimes barter to get products or services they need. Bartering is the trading of one product or service for another. Usually there is no exchange of cash. An example of bartering is a plumber doing repair work for … read more
Repair, installation and maintenance companies in Arizona have often been classified as contractors for purposes of transaction privilege tax (TPT). While this allowed them to purchase supplies tax-free, it subjected them to the standard 30% contractor deduction for labor, regardless … read more
There is nothing more complex than the world of taxes. We know this and yet we chose careers where we face these issues everyday. We get questions day in and day out about new tax laws, forms and news items and how they affect everyday people and businesses. Well, here at Henry & Horne, LLP we have set out to do what we do best; help everyday people understand what is going on in the world of state, local, federal, estate and international taxation. We will provide these weekly posts and we encourage you to give us feedback on those posts as well as letting us know what else you would like to know more about. Welcome to "Tax Insights." We hope you find this blog informative and worthy of your time.
Before posting a comment on a blog post please be aware that we do not give free tax advice to non-clients by email, comment response, or phone. Thank you!
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