Resources
Records Retention
Guidelines for Record Retention
One of the most frequently asked questions certified public accountants get from their clients is how long is it necessary to retain taxpayer records. The answer, of course, varies, dependent on the nature of the record.
New Tax Laws
TAX UPDATE | January 2011
Congress recently passed H.R. 4853, the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 (The 2010 Act) and there are a number of important points to understand. The 2010 Act contains several tax cuts, including a two-year extension of the Bush-era tax cuts, estate tax relief, extension and enhancement of a number of business and individual tax breaks, a two-year alternative minimum tax (AMT) “patch,” and a 2% payroll/self-employment tax cut for 2011 for employees and self-employed individuals.