Surprise Winners in the ATRA (American Tax Relief Act of 2012)

Kay Bell, tax blogger at, noted on January 3rd that when we get legislation such as the ATRA, which gets crammed through Congress at the last minute because of delays and procrastination, there are bound to be surprises in such a bill when there isn’t sufficient time for everyone to read and discuss it. [...]

How Did The Fiscal Cliff Affect Your Taxes?

Technically, at 12:01 AM on January 1st, 2013, the entire country went over the fiscal cliff. This is because our legislators did not agree on a bill to avoid the situation until Jauary 1st, and President Obama signed it into law on the 2nd. Of course, nothing actually happened, because the first of January was [...]

Sales Tax on Amazon Purchases?

For years, has been one of the best places online to purchase all kinds of products. From starting out as a bookseller in 1994, has become the largest online retailer in the world, and sells products of all types. In addition to books, movies and music, you can buy clothing, electronics, food and [...]

Taxable Fringe Benefits

There are many different types of fringe benefits that an employer may offer its employees, and some of them are considered non-cash income and will be added to your taxable income when your W-2 is issued. Some benefits, specifically insurance types, may not be taxable as income when the premiums are paid, but the proceeds [...]

California Enterprise Zone Tax Incentives

In the United States, certain areas can be designated as an Enterprise Zone by a governing authority. The purpose of these zones is to allow the local government to offer tax incentives in order to stimulate economic development in particular under-developed areas. These are often urban areas that are economically depressed, often subject to urban [...]

2012 Tax-Year Filing – Foreign Investment Accounts

The U.S.government issued a law in March, 2010, called the FATCA, or Foreign Account Tax Compliant Act, which is designed to identify foreign investment accounts held by U.S.taxpayers. This law is meant to compel American taxpayers, those who have “neglected” in the past to inform the IRS about their foreign accounts, to come clean and [...]

Quickbooks Data Files and an IRS Audit

The worst nightmare you can possibly imagine for your business has come true – the IRS has asked to audit your tax files! Okay, maybe not the absolute worst, but this certainly ranks up there in the top five. Your chances of an audit are actually very low. The simple fact is, the IRS doesn’t [...]

How to Spot White Collar Crime

The term “white collar crime” was first used by sociologist Edward Sutherland in 1939, when he described it as “a crime committed by a person of respectability and high social status in the course of his occupation.” Since then the term has been further defined as a financially motivated, non-violent crime conducted by business or [...]

A Guide to Tax Deductible Donations to Non Profit Organizations in The United States

The IRS recognizes certain organizations as nonprofit or not-for-profit entities, a distinction that requires strict eligibility criteria be met, in order for any contributions to such organizations to be considered “tax deductible” on a federal income tax return. These organizations are generally founded for purposes that include charity, education, religion, scientific exploration, or amateur sports [...]

Tax Subsidies and Tax Exempt Status of The Rich and Famous

In this time of deep political division in our country, when half the people are calling for increased taxes on the “wealthy” and half are calling for no tax increases but significant spendingcuts, it’s prudent to sit back and take a few moments to regain some perspective. We should all agree that everyone must pay [...]