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2014 Federal Tax Refund Delay Rumor is False, but there is Still Reason for Concern

A story from the National Journal claimed that the IRS would be delaying 2014 federal tax refunds until October 2015. The story looked entirely believable, with very plausible explanations as to how this could happen, even including quotes from White House spokesman Josh Earnest and senators Rand Paul and John McCain. The story turned out […]

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You’ve heard about Teach for America: Get Ready for “Accounting” for America

Teach for America is a non-profit organization founded in 1989 with the mission to eliminate the education gap in America’s lower income communities. This is accomplished by bringing in recent college graduates (and other professionals) to teach in these communities for at least two years. The program has become a win-win situation offering college graduates

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Ireland to End Tax Loophole for Foreign Corporations

Ireland currently has one of the world’s lowest tax rates at 12.5%. This has helped lure hundreds of foreign companies to set up shop there in recent years, much to the dismay of the U.S. and neighboring European countries. Beyond the low corporate tax rate, Ireland has another loophole known as the “double Irish” which

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There’s an App for That: A New Generation of Apps that Keep the Books

For years, entrepreneurs and small businesses have had essentially two choices for keeping their books; using an old fashioned ledger or using a computer software program such as QuickBooks, often with the assistance of a local accounting firm. Today, there is a new option that is gaining steam called cloud-based mobile apps. With an increasing

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The R&D Tax Credit: Do You Qualify?

One of the most under-claimed credits available for businesses is in the area of research and development. Companies that qualify but fail to claim the R&D credit miss an estimated $3 billion and $4 billion in tax savings each year. Recently the rules have been updated to allow companies to claim R&D credits on amended

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Should I File Taxes Separately or Jointly with My Spouse?

In today’s world, having both parents working is the norm rather than the exception. However, having both mom and dad at work can tend to complicate things at home. There are decisions to be made in several areas; such as babysitting/daycare for the kids, who will do the grocery shopping, who will cook the meals,

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Have Your Accounting Questions Answered

September 28 has been designated as Ask a Stupid Question Day, a holiday begun in the 1980s by teachers that wanted to encourage their students to step outside their comfort zones and ask questions without fear of looking ignorant. Though the official date is the 28th, the holiday is actually observed each year on the

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Why BASC Expertise Should Be YOUR Mesa Accounting Firm

Along with ushering in fall and football season, September also happens to be Shameless Promotion Month. This gives us license to publish at least one post telling you why BASC Expertise should be your choice if you are searching for a Mesa accountant. Aside from the fact that we are the very best at what

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Congress May Be Forced to Adopt Internet Sales Tax

Last year, the U.S. Senate passed the Marketplace Fairness Act of 2013, a bill that authorized state governments to collect sales and usage taxes from online retailers. Under current law, the only online merchants that are required to collect sales taxes are those that have a physical presence in that particular state. Brick and mortar

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Unlikely CPAs: 5 Celebrities that Studied to be Accountants

Accounting is not known as a profession you go into if you want to be in the spotlight. To the contrary, accountants are those “bean counters” that are behind the scenes making sure people have their bookkeeping in order and are in compliance with tax laws. Surprisingly, there are some well-known celebrities that once had

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