Holly Roundtree CPA
Thinking about converting from a C corporation to an S corporation?
The right entity choice can make a difference in the tax bill you owe for your business. Although S corporations can provide substantial...
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Holly Roundtree CPA
Small businesses: Get ready for your 1099-MISC reporting requirements
A month after the new year begins, your business may be required to comply with rules to report amounts paid to independent contractors,...
Holly Roundtree CPA
You may be ABLE to save for a disabled family member with a tax-advantaged account
There’s a tax-advantaged way for people to save for the needs of family members with disabilities — without having them lose eligibility...
Holly Roundtree CPA
Small businesses: Stay clear of a severe payroll tax penalty
One of the most laborious tasks for small businesses is managing payroll. But it’s critical that you not only withhold the right amount...
Holly Roundtree CPA
2019 – 11/01
When it comes to planning for next year’s tax return filing, the IRS urges taxpayers to wait no longer. To avoid tax-time surprises on...
Holly Roundtree CPA
2019 – 11/01
Are you interested in forming a tax-exempt nonprofit group? Many people who want to support causes mistakenly think that calling a group...
Holly Roundtree CPA
2019 – 11/01
Additional improvements are needed in IRS information technology (IT) systems, according to a recent audit. The Treasury Inspector...
Holly Roundtree CPA
2019 – 10/31
Two nonprofits aren’t entitled to the refunded interest they were seeking. The Court of Appeals for the Federal Circuit has joined four...
Holly Roundtree CPA
2019 – 10/31
A son took his sick mother’s income, but she was still taxed on it. The son allegedly exploited the mother, who had dementia, by...
Holly Roundtree CPA
2019 – 10/30
A bankruptcy court has held that a debtor can’t avoid an IRS tax lien, even though the lien was attached to real property and would...
Holly Roundtree CPA
2019 – 10/30
The U.S. Tax Court has ruled that a finder’s fee wasn’t deductible. The taxpayer, a plastics manufacturer, was acquired by a large...
Holly Roundtree CPA
2019 – 10/29
Spouses filing a joint federal income tax return generally are both liable for the tax owed. But, under certain conditions, one spouse...
Holly Roundtree CPA
2019 – 10/29
Don’t be frightened by ghoulish robocalls, the IRS warns. In yet another scam related to Social Security numbers (SSNs), con artists...
Holly Roundtree CPA
2019 – 10/29
Federal budget figures for the 2019 fiscal year (ended Sept. 30) show a $984 billion budget deficit. That’s $205 billion more than in...
Holly Roundtree CPA
2019 – 10/28
The IRS announced that more disaster victims in Texas qualify for tax relief. The following are federal disaster areas qualifying for tax...
Holly Roundtree CPA
2019 – 10/28
In a Chief Counsel Notice, the IRS has alerted its attorneys to procedures for working and coordinating cases involving virtual currency....
Holly Roundtree CPA
2019 – 10/28
New reporting requirements are taking effect for life insurance contract transactions. The IRS and U.S. Treasury Dept. issued final...
Holly Roundtree CPA
IRA charitable donations are an alternative to taxable required distributions
Are you charitably minded and have a significant amount of money in an IRA? If you’re age 70½ or older, and don’t need the money from...
Holly Roundtree CPA
Understanding and controlling the unemployment tax costs of your business
As an employer, you must pay federal unemployment (FUTA) tax on amounts up to $7,000 paid to each employee as wages during the calendar...
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