Finally, a break for the starving artist! Well, a tax break that is. And this tax break is not for all artists, but only for songwriters. Generally, those who purchase and sell the rights to songs or music catalogs get … read more
As the IRS continues to increase their focus on exposing hidden foreign accounts of U.S. taxpayers, it is important to be aware of all filing requirements and be in compliance to avoid excessive penalties. One area that is commonly missed … read more
Following the Sarbanes Oxley Act more than a decade ago, security and fraud have been two of the cornerstone focuses of the accounting profession. Proper and secure system controls have become a necessity, not only for auditors and tax accountants, … read more
The American Institute of Certified Public Accountants (AICPA) has participated in U.S. House of Representatives, Committee on Small Business hearings on tax reform with the goal of ensuring that main street isn’t left behind. One area of focus in this … read more
According to a report from the National Taxpayer Advocate, more than 300,000 taxpayers overpaid the Individual Shared Responsibility Payment (ISRP) for health insurance on their tax returns processed through the end of April 2015. Most of those taxpayers were charged … read more
As summertime winds down and the kids head back to school, it’s the perfect time to take a few minutes to review you taxes and do some smart mid-year tax planning. People often wait until December to start thinking about … read more
A common topic of discussion and sometimes heated debate – many restaurant patrons do not see eye to eye on the cultural practice of tipping. When to tip? How much? Should you tip on drinks? Do you tip based on … read more
Often penalties are assessed by a taxing agency and the taxpayer has grounds for asking the government to forgive the penalties based on “reasonable cause”. Some typical reasonable cause requests for penalty reduction or “abatement” are serious illness or death … read more
Whether you accidentally withheld too little on your paycheck, your business made more money than you expected, or you just really didn’t plan so well this year, circumstances sometimes arise when your individual income tax bill is higher than you … read more
If you read about the due dates of all of the different types of tax returns changing, you are probably wondering how these changes affect you. If you have a C Corporation, the due date is pushed back to the … 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.
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- A Special Tax Break for Songwriters
- Foreign Pensions from a U.S. Tax Perspective
- IRS “Get Transcript” Fiasco Gets Worse
- Pushing for Tax Reform – Retirement Plans
- Overpaying the Affordable Care Act Individual Mandate
- Mid-Year Tax Planning Strategies
- The Federal Tip Credit: An Overlooked Tax Benefit for Restaurant Owners
- AZ Releases New Form 290 Request for Penalty Abatement
- Plan B for Paying Your Taxes When You’re Short on Cash
- New Due Dates for Tax Returns – How Does This Affect You?