- Business Tax Reform Planning Options
- Tax reform enacted at the end of 2017 included many issues that small businesses should be aware of to ensure the best tax outcome when filing their 2018 tax returns. Learn more.
- How QuickBooks Online Can Improve Your Company's Financial Health
- QuickBooks Online is more than just an online bookkeeper. It can help improve your cash flow, your customer relationships, your inventory readiness, and your future.
- 10 Mistakes Most Small Business Owners Miss When Starting Out
- By being aware of a few of the most common legal and compliance mistakes made by small business owners when starting out, you can be better prepared for future success.
- Offer in Compromise FAQs
- Taxpayers interested in pursuing an IRS Offer in Compromise generally have three different options available to them under federal law. Learn more.
- Clergy Tax Benefits Under Fire
- Section 107 of the Internal Revenue Code provides that a minister of the gospel’s gross income doesn’t include the rental value of a home (parsonage) provided; if the home itself isn’t provided, a rental allowance paid as part of compensation for ministerial services is excludable. The benefit is generally referred to as a parsonage allowance. Thus, a minister can exclude the fair rental value (FRV) of the parsonage from income under IRC Sec. 107(1), or the rental allowance under Sec. 107(2), for income tax purposes. The Sec. 107(2) rental allowance is excludable only to the extent that it is for expenses such as rent, mortgage payments, utilities, repairs, etc., used in providing the minister’s main home, and only up to the amount of the FRV of the home.
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