Tax Articles

These Tax articles will give you the news and information you need to stay up to date in the ever changing Tax industry.

November 27, 2013 – 1,210 views
Tax Professionals' Resource
Two Congressmen, Ami Bera and Charles Boustany brought out a bipartisan bill last month for making health care much affordable for small businesses, working families and seniors. This bill named Small Business and Family Relief Act, if passed, will lead to a delay of two years in the taxation of health insurance which is a part Obama’s Affordable Care Act and is scheduled to begin next year. Full Story 
November 20, 2013 – 1,211 views
Tax Professionals' Resource
It almost seems as though low and middle income households work day and night to ensure that millionaires receive tax benefits. The NFL is classified as a non-profit organization and is exempt of any tax by the IRS. In fact, it has been free of tax liability since it started back in 1942. Perhaps at that time the tax exemption was to benefit players so that football could become more prominent than it was... Full Story 
November 15, 2013 – 1,389 views
Tax Professionals' Resource
Letters of intent are documents that outline the agreements reached upon by two or more negotiating parties before their finalization. Letters of intent may be compared with legal contracts with the difference that they are not as binding as the latter on parties entering the agreement. They are instead, similar to heads of agreement and are typically used for Joint Venture Agreements, Share or Asset Purchase Agreements, and also all generic Agreements that are prepared to close large financial deals... Full Story 
November 13, 2013 – 1,208 views
Tax Professionals' Resource
On the 11th of November 2013, Gov. Jay Inslee of Washington signed the largest government subsidy ever given to a single corporate firm. It is surprising that such a decision took only a few days to make, especially considering the large amount of money involved. This law is beneficial to Boeing because it allows the company to extend its operating tax dues over a fairly long period of time, until 2040 (27 years). The tax break value amounts up to... Full Story 
November 11, 2013 – 1,138 views
Tax Professionals' Resource
Firearm trusts are specific organizations that are entitled to hold machine guns, short-barreled rifles, destructive devices, short-barreled shotguns, suppressors, and other weapons according to the National Firearms Act (NFA). Only such organizations have the authority to provide such Title II weapons to trustees... Full Story 
November 7, 2013 – 1,165 views
Tax Professionals' Resource
There are just two months to go before retailers in Colorado will be allowed to sell marijuana. This will be first time ever in the United States that retailers will be allowed to do so. On the other hand, voters who headed to the voting polls in a total of six states also considered ballot measures which include questions about the tax on marijuana and requirement of labels for food that is genetically modified... Full Story 
November 5, 2013 – 1,401 views
Peter H. Wayne, IV - Wyatt, Tarrant & Combs, LLP
A Special needs trust (“SNT”) is a form of a pure discretionary, spendthrift trust designed to preserve a disabled person’s eligibility for government benefits. These public benefits may include means-tested programs where eligibility is based on financial need, such as Medicaid, Supplemental Security Income (“SSI”) or Food Stamps, or... Full Story 
October 30, 2013 – 1,187 views
Tax Professionals' Resource
American citizens have been financing the maintenance and construction of highways for all these years through taxes paid on gas purchase. Soon though, the situation will change and people might have to pay taxes depending on their mileage driven. The Los Angeles Times published a recent report about the possible introduction of little black boxes that would be... Full Story