The IRS recently changed the way partnerships (and LLCs taxed as partnerships) will be audited in the near future. Under the old rules, the IRS would audit the books and records of a partnership and determine if an adjustment to ...

Tagged with: Keeping Your Balance Kevin J. McPherson

It is that time of year again when we brave the holiday crowds, throw out our backs shoveling snow, and … sharpen our pencils to do some fun year-end tax planning.  While this should be done throughout the year, many ...

Tagged with: Donald Trump Keeping Your Balance Kevin J. McPherson tax law

As a result of President Obama recently signing into law the Tax Increase Prevention Act of 2014, taxpayers will now be able to file their 2014 corporate and personal income tax returns with many of the same tax breaks that ...

Tagged with: Keeping Your Balance Kevin J. McPherson

Earlier this year, Gov. Andrew Cuomo signed into law the 2014-2015 state budget. In it are many new tax-friendly provisions that should make New York state a more attractive place to conduct business. According to Joseph Henchman of the Tax ...

Tagged with: Keeping Your Balance Kevin J. McPherson

Every year a significant number of tax incentives are due to expire on Dec. 31. The end of 2013 was no different as many popular corporate and individual tax credits and deductions were due to come to an end. Lawmakers ...

Tagged with: Keeping Your Balance Kevin J. McPherson

Saving for college in the best of times is difficult enough, but doing so in the current economic climate has made it even more challenging. According to College Board, tuition and fees at private and public universities have increased at ...

Tagged with: Keeping Your Balance Kevin J. McPherson

Congress and the White House waited to the last minute to reach a compromise on legislation that made permanent many of the Bush-era tax cuts that were set to expire on Dec. 31, 2012. This legislation, known as the American ...

Tagged with: Keeping Your Balance Kevin J. McPherson