Expenses & Deductions

IRS Proposes Changes to Rules for Dependents

The IRS proposed changes to various rules affecting dependents, including changing its position on when taxpayers count as “childless” for purposes of the earned income tax credit.

Form 8332 Challenges for Divorced Couples

When parents divorce without a meeting of the minds or a well-crafted agreement, issues can result as to who is entitled to the tax benefits from supporting their children.

Individual Tax Update

This article covers recent developments affecting taxation of individuals, including regulations, cases, and IRS guidance.

Health Savings Account Limits for 2017 Are Issued

The IRS issued the inflation-adjusted figures for the annual contribution limits for health savings accounts and the minimum deductible amounts and maximum out-of-pocket expense amounts for high-deductible plans.

Deducting Business Bad Debts

Planning that maximizes the business bad debt deduction can help minimize the taxpayer’s overall economic loss.

Casual Lender Not Allowed Bad Debt Deduction

A taxpayer who made high-interest loans to friends was not entitled to any bad debt deduction for a loan that went belly up because he did not prove that it was a business loan.

Newsletter Articles

SPONSORED REPORT

Cybersecurity threats proliferating for midsize and smaller businesses

This report details how SMBs can properly protect private information from breaches, design and implement a cybersecurity policy, and create safeguards for training and education.

PRACTICE MANAGEMENT

Tax software survey

Results of the annual survey are in, as more than 3,800 CPA tax preparers tell how their return preparation software worked for them during this year’s busy season.