by Renu Vardhan | Dec 17, 2014 | Tax Administration, Tax Changes, Tax Credits and Deductions
Senate approves the bill, which extends the a number of tax breaks that were to expire in 2013 through 2014, The bill passed the Senate 76 to 16. To know the details of the tax extenders, visit...
by Renu Vardhan | Dec 11, 2014 | Tax Changes
The Internal Revenue Service (IRS) has issued the 2015 optional standard mileage rates. Beginning on Jan. 1, 2015, the standard mileage rates for the use of a car, van, pickup or panel truck will be 57.5 cents per mile for business miles driven, up from 56 cents in...
by Renu Vardhan | Sep 22, 2010 | 2010 Credits/Deductions, Tax Changes
The Senate passed the Small Business Jobs Act of 2010. The House is set to vote on the bill where its expected to pass.The following provision is included in the Bill…1. One-year extension of the 50-percent bonus depreciation provision for qualified property...
by Renu Vardhan | Aug 9, 2010 | Late Filing Penalty Relief, Tax Administration, Tax Changes, Tax Due Dates, Tax Penalties
Time is running out and the tax returns for S Corporation are due soon. The final deadline to file S Corp tax returns (Form 1120S) is September 15th, 2010 if an extension was requested.S Corporation’s no longer enjoy the luxury to file late and not pay the...
by Renu Vardhan | Aug 9, 2010 | Late Filing Penalty Relief, Tax Changes, Tax Due Dates, Tax Penalties
Time is running out and the tax returns for partnership are due soon. The final deadline to file partnership tax returns (Form 1065) is September 15th, 2010 if an extension was requested.Partnership no longer enjoy the luxury to file late and not pay the penalty.For...
by Renu Vardhan | Aug 6, 2010 | 2010 Credits/Deductions, Health Insurance, Tax Changes, Tax Credits and Deductions
Employer-Provided Health Coverage — Not TaxableStarting in tax year 2011, the Affordable Care Act requires employers to report the value of the health insurance coverage they provide employees on each employee’s annual Form W-2. This reporting is for...
