Tax

As Congress struggles to produce a health care reform bill that can be sold to voters during and after the August recess, one idea that’s emerging is a tax on plastic surgery.

Sen. Carl Levin, D-Mich., and John McCain, R-Ariz., have introduced legislation aimed at curbing excessive corporate tax deductions for stock options.

IMGCAP(1)]Part of a CPA’s job is to evaluate the potential tax benefits of various business and estate planning strategies.

House Democrats’ proposal for a surtax on upper-income taxpayers to help pay for health insurance reform would not have a noticeable impact on small businesses, according to a new report from the advocacy group Citizens for Tax Justice.

Fifteen states and the District of Columbia will be offering tax holidays for back-to-school shopping on various days this month and next, according to a report by CCH.

Recent changes in the tax treaty between the U.S. and Canada will have an impact in a variety of areas, including 401(k) contributions and stock options, as well as the ability of taxpayers to move across borders.

PDI Global has introduced an online version of its 2009-2010 Tax Planning Guide that accounting firms can put on their Web sites and market to clients.

Small-business owners and industry representatives told a House committee that the tax breaks in the stimulus package passed by Congress in February have helped some companies.

House Democrats have introduced health care legislation that would impose a surtax on upper-income taxpayers, and penalties on many small businesses that don’t provide health insurance coverage to employees.

The TV networks have been on a letter-writing campaign lately in an effort to dissuade Congress from ending the expensing of ads by pharmaceutical companies.