Tax planning

Every business owner knows the drill: We made a profit this year so we need to spend our cash to save on taxes. I want to challenge you to think differently this year to “save cash,” not “save taxes.”

Now that the payroll tax cut extension is safely out of the way, the latest tax legislation gambit in Congress appears to be a tongue-in-cheek effort to provide an annual $250 tax deduction for people with mustaches.

Boomer Consulting and Engineered Tax Services have teamed up to introduce The Specialty Tax Circle to help firms improve their growth and profitability by leveraging specialty tax services.

A Silicon Valley-based CPA is warning taxpayers and their accountants to begin planning for the tax increases that are set to take effect next year unless the current tax rates are extended by Congress and President Obama.

Berkshire Hathaway chairman Warren Buffett hinted in his annual letter to shareholders that the holding company’s nearly 18,000-page tax return may merit the attention of the Guinness Book of World Records.

The Middle Class Tax Relief and Job Creation Act of 2012 may be the last piece of tax legislation we’ll see this year.

More than half of small businesses may not have optimal retirement plans, according to a new survey.

The National Small Business Association is warning that some of the tax proposals in President Obama’s business tax reform framework could hurt small businesses.

President Obama has signed into law an extension through the end of the year of the payroll tax cut, unemployment benefits, and the so-called “doc fix” to prevent Medicare physician reimbursement rates from plunging.

President Barack Obama launched a dialogue with corporate America on Wednesday over business tax reform, offering his first clear plan to cut the corporate tax rate, with little prospect of it becoming law in an election year.

The Obama administration unveiled a set of proposals for business tax reform on Wednesday aimed at lowering the corporate tax rate to 28 percent from a high of 35 percent, while eliminating dozens of tax loopholes and subsidies.

A nonprofit group representing the interests of U.S. citizens living overseas met with congressional staffers to push for a residence-based taxation system.

Congress passed legislation Friday extending the payroll tax cut, unemployment benefits, and the “doc fix” for Medicare physician reimbursements through the remainder of the year.

There hasn’t been a federal budget in three years, so what’s to worry about the just-released budget for fiscal year 2013?

House and Senate negotiators have released a conference committee report spelling out several of the provisions of the payroll tax cut extension legislation, which also extends unemployment benefits and the “doc fix” for Medicare reimbursements for physicians.

IRS Commissioner Doug Shulman warned tax executives that they face substantial tax risks from uncertain tax positions, international enforcement efforts, and impermanent tax credits that expire every year or two.

U.S. lawmakers reached a tentative deal on Tuesday on legislation aimed at boosting the economy by extending a payroll tax cut for 160 million workers through this year and continuing long-term jobless benefits, congressional aides said.

Treasury Secretary Tim Geithner told a Senate panel that the Obama administration plans to introduce a series of proposals to reform the corporate tax laws.

After months of wrangling, congressional leaders appear to be close to a deal on extending the payroll tax cut, unemployment benefits, and the so-called “doc fix” for Medicare physician reimbursements through the end of the year.

Rep. Sander Levin, D-Mich., the ranking Democratic member on the tax-writing House Ways and Means Committee, introduced legislation Tuesday to tax the carried interest earned by hedge fund managers, private equity firm partners, venture capitalists and others at the same tax rates as ordinary income.