An annual report from Lincoln Institute of Land Policy and the Minnesota Center for Fiscal Excellence is pointing out the recent shift in property values and how it’s affecting taxes across all 50 states. So where are the 10 states with the highest commercial property taxes today? “Property taxes that are rebounding along with recovering property values should be no surprise to landlords. However, a lag time in reassessment periods in some jurisdictions is causing some property tax bills to skyrocket…” [ Read more here ]
The long awaited revisions to the Financial Accounting Standards Board’s hedge accounting standard are in, but the FASB is advising against adopting the new standards too quickly.
“The accounting standards update for hedging, which FASB issued Monday, takes effect for public companies in 2019 and private companies in 2020 (see FASB releases hedge accounting standard). But FASB is also allowing early adoption for companies if they want to begin using it right away…” [ Read more here ]
It’s the largest lottery winning ever that will be going to one individual winner, but with that large payout, there will also be a large tax bill incoming.
“The one lucky person holding the $758.7 million Powerball jackpot ticket sold in Massachusetts will have an avalanche of financial decisions to make in the coming days and weeks.
It’s the biggest single lottery jackpot win in North American history…” [ Read more here ]
Start paving your road to business success at an early age! Fortune 500 CEO’s and top executives are weighing in on how you can start growing your base in your 20’s…
“Current and former Fortune 500 executives, as well as other business leaders, have given some great career advice on Business Insider’s podcast, “Success! How I Did It.” From Sheryl Sandberg to Steve Ballmer, we pulled the best advice they gave for 20-somethings who have big business ambitions…” [ Read more here ]
As we take on more responsibilities, investments, and endure life changes the tax implications can grow significantly. And the failure to plan this out properly can end in a big debt owed when tax time rolls around…
“In order for taxpayers not to find themselves in an underpayment or failure to pay situation, they should regularly review their tax withholding and schedule of estimated tax payments, particularly after a major life event, such as a marriage, divorce or new job…” [ Read more here ]
Tax time may not be everyone’s favorite time of the year, but at Sterling Accounting, there’s no lost sleep! Don’t run into troubles with the IRS over your taxes – be sure you are going to rank on their good side with the expert help of Sterling Accounting.
“More Americans who pay their income taxes each quarter are being penalized by the IRS for making mistakes or missing payments.
There’s been a nearly 33% jump — from almost 7.5 million to nearly 10 million — in the number of penalties levied between fiscal years 2007 and 2016, IRS data show…” [ Read more here ]
Let Sterling Accounting take over your office needs, so you can put that time into focusing to grow your business! From bookkeeping, to payroll and tax filing, don’t get caught up in time killing activities around the office.
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Get the help your business needs dealing with the IRS – Sterling Accounting is your solution for all your financial, accounting, bookkeeping, and payroll needs to keep your business operating smoothly and with ease.
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Want to skip the court room with your IRS tax issues? It may be an option on the table soon, as the IRS is planning out an online tax appeals conference system to aid your battle…
“Resolving your tax issues with the Internal Revenue Service (IRS) just got a little bit easier – assuming you have an internet connection. The IRS has announced that the Office of Appeals will pilot a new “web-based virtual conference option” for taxpayers and their representatives…” [ Read more here ]
Are we likely to see a tax shakeup with the proposed reform taking place this year? Tax professional’s aren’t all that certain… “Nearly two-thirds of the survey respondents (63.5 percent) said compromise in Congress is most needed to ensure passage of tax reform. For the survey, Deloitte polled more than 3,100 attendees during a webinar last month….” [ Read more here ]