A Simple Tax Cut – Or Not!

Great news for wage earners – Congress has passed a bill that temporally extends the 2% reduction in the employee portion of FICA taxes.  Of course, they did not make it that simple.  For individuals that earn more than $18,350 … read more

Related Party Rentals – What's the Big Deal?

As long as the tax code has been in place, people have looked for ways to shift income, reduce their liability, and increase their cash flow. And, as an owner of a small business, rent expense has been an area … read more

Overview of Uniform Capitalization

The uniform capitalization rules (UNICAP) require a business to capitalize certain costs rather than deduct the costs as they are incurred.  The UNICAP rules do not apply to all businesses.  The businesses that are subject to the UNICAP rules include … read more

The Value of Soft Skills in Accounting

There was a recent survey conducted by Grant Thornton LLP of 500 senior finance executives at US companies across many different industries.  The findings of this survey were interesting in that 55% of CFOs stated that the most significant challenge … read more

2011 Budget Proposals

On February 1, 2010 President Obama submitted his budget proposal to Congress.  The President’s budget proposal contains a number of provisions that will have a material impact on taxpayers, both business and individual.  Among the more significant proposals are the … read more

What Type of Entity Should I Make My New Business?

One of the most important decisions to make when starting or expanding a business is what type of entity to create. The choice can be long-lasting and difficult to change, so the entity type should fit the anticipated needs of … read more

I Started as an Intern

I was thinking back a few years ago when I started the 2006 Tax Season as an intern at Henry and Horne.  I was really excited to have the opportunity to see what it was like to work in a … 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 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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