It’s difficult to imagine being convicted of a crime and wrongfully incarcerated. It’s even harder to imagine that when ultimately the truth sets you free the damages you receive are subject to tax. Congress too saw the irony in the … read more
Do you have a loved one that may be in school, struggling with student loans, or buying a house? Yes? No? To be honest it doesn’t matter, because for this tax savings gifting tip, you don’t need a “qualified” reason … read more
We were first introduced to the new W-8BEN (for individuals) and W-8BEN-E (for entities) when the IRS released draft forms applicable to the 2014 tax year. The IRS continues to fine-tune the W-8BEN-E forms and instructions in the 2015 drafts. … read more
The rules for making charitable donations from your business are similar to those governing personal donations. For example, you can donate cash or property, your total deduction may be limited, you may need to get an appraisal to establish value, … read more
If you lose your job, you may qualify for unemployment benefits. The payments may serve as much needed relief. But did you know unemployment benefits are taxable? Here are four key facts about unemployment compensation: Unemployment is taxable. You must … read more
All income is taxable unless the law excludes it. Here are some basic rules you should know to help you file an accurate tax return: Taxed income. Taxable income includes money you earn, like wages and tips. It also includes … read more
Growing up we used run around pretending that we were pirates finding buried treasure while sailing the dangerous seas. Nineteen years later as new tax interns, we found that pirates have to pay taxes just like everyone else. The tax … read more
The question sometimes arises “do I have to pay tax if I win a prize or award from my employer?” Unfortunately, the answer usually makes Uncle Sam the winner as well. So before you take those big winnings with you … read more
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
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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- Surviving Recruiting: Land the Job and Keep Your Sanity
- Government Forgives Certain Student Loan Debts
- An Easier, Cheaper 60 Day Rollover Waiver
- Hardship Distributions
- Transfer Pricing, IRC 482 and Control
- Taking on the Tax Court – What Happened to Bruno?
- Sales Tax Audits
- Fiduciary Access to Digital Assets and Accounts