The IRS Says You’re No Longer Represented by Your CPA

You get a letter from the Internal Revenue Service and right away you don’t have a very good feeling about it. You open it up, read it, and then panic hits. You owe them $10,000! No. Fortunately, it doesn’t tell … read more

Do You Know and Trust Your Accountant?

What do you look for in a CPA? Knowledge of tax codes? Professionalism? Business advice? Personality? Wait, what? Did that last one throw you for a loop? It may seem odd to include personality on the list, but it is … read more

How to Take Advantage of the Small Business Health Care Tax Credit

The Affordable Care Act has small business owners wondering how to take advantage of this tax credit. So, how do you know if your business qualifies? To qualify for a small business tax credit of up to 50% (35% for … read more

Tax-Free Student Aid vs. Education Credit

The American Opportunity and Lifetime Learning tax credits were created to subsidize the cost of college education. Generally, the credits are based on qualified costs of education, namely, college tuition and fees, books, supplies and equipment. Those qualified costs must … read more

How to Select a Trustee

Clients often struggle with the task of selecting an appropriate Trustee for their trust. An excellent article by Charles Redd “The Most Disrespected Decision in Estate Planning” offers some very practical advice. Factors to take into account when selecting a … read more

Are You Subject to the California Franchise Tax?

In today’s economic environment, States are finding themselves with budget shortfalls and California is among them. With that said, the state is aggressive in its attempts to tax. The California franchise tax generally imposes a minimum tax of $800 on entities … read more

Gain Exclusion for Principal Residence Previously a Rental

During the Great Recession it was often difficult to sell homes, as buyers were few, with many having difficulty qualifying for home loans previously easy to get. Other homeowners had upside down mortgages and couldn’t sell at the price needed … read more

New Sales Tax Exemption for Manufacturing Businesses Available in August

Senate Bill 1413 will go into effect on August 1st, exempting certain manufacturing and smelting businesses from paying sales tax on their natural gas and electricity utility bills. The exemption applies to both state and county sales taxes, and is … read more

Inherited IRAs Don’t Receive Bankruptcy Code Protection

A unanimous Supreme Court decision in the Clark v. Rameker case has held that inherited IRAs do not qualify for a bankruptcy exemption, i.e., inherited IRAs are not protected from creditors of the beneficiary in bankruptcy. The Court ruled that … read more

Mid-Year Tax Planning Tips

Summer is the perfect time to begin your year-end tax planning so that you have time to identify the strategy (or strategies) that work for you and implement them well before year end. Try to avoid the new 3.8% net … 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!

Contact Us


Recent Posts