The New Jersey Governor signed a law that amends the state’s Gross Income Tax law, to modify the alternative business calculation adjustment provisions. The law includes replacing the existing flat &#...
A Texas couple is challenging an IRS assessment of more than $3.5 million in deficiencies and penalties for underreporting income, arguing the agency wrongly recognized money they held on behalf of a ...
A couple is entitled to an Ohio income tax deduction of about $30,000 because their capital gains from the sale of a business qualify for the business income deduction, the Ohio Board of Tax Appeals r...
The Illinois Department of Revenue (DOR) issued an informational bulletin announcing income tax changes enacted under Public Act 104-0468, effective July 1. Beginning with tax years ending on or after...
The Supreme Judicial Court’s decision to reject an income tax cut heading for November’s ballot will please progressive groups and state lawmakers, frustrate some business groups. If someo...
The state’s highest court ruled Thursday that a ballot question that would cut the state income tax in Massachusetts cannot proceed to the November ballot, dealing a blow to business groups who had ar...
The U.S. Tax Court held that taxpayers were liable for civil fraud penalties under I.R.C. §6663 after finding that one spouse intentionally concealed business income from a jointly owned medical ̷...
A woman transformed her Walmart shopping habit into a lucrative business, earning money through affiliate sales and social media. This as-told-to essay is based on a conversation with Taylor Mitchell ...
The Nuveen CIO, who leads a business with $1.4 trillion in assets, explains why she favors these assets within fixed income. Select segments of the fixed income market are offering compelling opportun...
Michael Sim and his cofounder started Future Flicks, a photo booth business, after Sim was planning his own wedding and learned about the expense. This as-told-to essay is based on conversations with ...