Without a doubt, one of the more contentious issues in any race for federal office has long been the Internal Revenue Code, with some candidates arguing that it's far too complex and in need of a complete overhaul, and others advocating for smaller scale reform such as reducing the number of brackets.
Florida voters were asked to decide an important tax-related issue during the primary election held back on August 30. Specifically, they were asked to vote "yes" or "no" on Amendment 4, which called for the same solar tax exemptions currently enjoyed by homeowners to be extended to business owners.
People across the nation have been glued to their televisions over the last few weeks, eagerly watching Olympians from across the globe compete in a variety of events and cheering on members of the U.S. team in their quest for the gold.
From the hybrid technology in the cars we drive to the sustainable food we consume in restaurants, it seems as if environmental awareness now permeates many aspects of our daily lives. Indeed, many homeowners and businesses are now looking to go "off the grid," meaning rely completely on power generated by solar panels, in a bid to protect the environment and save money.
Back in April, our blog reported on how the Treasury Department had unveiled a series of proposed rules designed to target inversions and other related tax-saving strategies frequently undertaken by businesses.
Over the last few years, the Internal Revenue Service has granted noncompliant taxpayers with foreign bank accounts multiple reporting options via its Offshore Voluntary Disclosure Program. Specifically, these options enabled taxpayers to escape significant fines and other associated penalties by coming forward of their own free will and declaring these foreign assets.
Last time, we started discussing how small business owners must maintain constant vigilance regarding tax-related matters, as they are always under the watchful eye of the Internal Revenue Service.
If you are a small business owner, chances are very good that you are breathing a sigh of relief now that tax season is well behind us, as you are free to get back to the business of making money. Even better, you can feel relief knowing that the threat of an audit is receding with each passing day.
Most of the world is still abuzz over the recent release of the so-called Panama Papers, meaning the leak of roughly 11.5 million confidential corporate documents from the Panama City-based law firm Mossack Fonseca to the International Consortium of Investigative Journalists.
As a business owner, your primary objective has always been doing everything in your power to help your enterprise not just grow, but thrive. To that end, you do whatever it takes on both a micro- and macro-level to ensure the continued success of your operations from carefully managing inventory to studying the spending habits of your customer base.