September 17, 2012

Transfer Of Business Assets In Florida May Come With State Tax Liability

A recently enacted Florida statute clarifies that the transfer of a Florida business’s assets is considered a sale of the business and that the sale may […]
June 28, 2012

IRS Denial Of Tax Exempt Status To Political Group May Be Cause For Other Groups’ Concern

A recent decision by the IRS to revoke the tax-exempt status of Emerge America, a small political nonprofit organization, may concern larger groups, such as Crossroads GPS and Priorities USA, that […]
June 8, 2012

IRS Denial Of Tax Exempt Status To Political Group May Be Cause For Other Groups’ Concern

A recent decision by the IRS to revoke the tax-exempt status of Emerge America, a small political nonprofit organization, may concern larger groups, such as Crossroads GPS and Priorities USA, that […]
April 16, 2012

Last Minute Tips For Tax Filers

Income tax returns are due by the end of Tuesday, April 17.  Here are a few helpful tips to ensure that your filing runs smoothly. Double […]
April 2, 2012

TaxMasters Files For Bankruptcy; Hit with $195 Million Judgment

TaxMasters, the tax firm known for late night commercials featuring Patrick Cox, its red-bearded founder, has filed for bankruptcy and lost a huge civil suit, all in […]
November 18, 2011

IRS Scrutinizes Universities For Unrelated Business Taxable Income

The IRS has recently begun scrutinizing several universities, including Notre Dame, Purdue, the University of Texas at Austin, Texas A&M, the University of North Carolina, the […]
November 11, 2011

Florida Employers Could See Major Unemployment Tax Hike

If the Florida legislature fails to act soon, Florida business owners could see a significant increase in their unemployment tax bill.  Business owners will see their […]
November 9, 2011

Swiss Bank Credit Suisse Agrees To Disclose U.S. Client Data To The IRS

Credit Suisse Group AG, Switzerland’s second-biggest bank, has informed its U.S. clients that it intends to disclose confidential client account data to the Swiss taxing authorities, […]
October 7, 2011

It Seems The Federal Government Has Had Enough Of Medical Marijuana

On Wednesday we posted a blog discussing the recent IRS ruling against medical marijuana dispensaries’ ability to take deductions for payroll, expenses, etc.  Now it appears that […]
September 14, 2011

Florida Documentary Stamp Tax And Transfers To LLCs

In Florida, documentary stamp tax is generally levied at the rate of $.70 per $100 (or portion thereof) on documents that transfer an interest in real […]
September 13, 2011

The Difference Between Nonprofit And Tax-Exempt Status

Many times we come across individuals who feel that a “nonprofit” and “tax-exempt” entity are the same thing. However, this is not the case and there […]
August 30, 2011

How Long Does The IRS Have To Audit Income Tax Returns Or Collect Back Income Taxes?

Many people wonder just exactly how long the IRS has to begin an audit of an income tax return or to collect unpaid income taxes. The […]