The Sansone Difference Blog

More and more, it appears that auditing firm KPMG’s initials stand for Keep Probe Mode Going. On the heels of a multimillion-dollar settlement with co-defendant Fannie Mae in Ohio, the auditors are now the focus of two probes by Britain’s accounting regulators, The Financial Reporting Council. In the Ohio case, the state’s attorney general suedContinue Reading

When William Shakespeare wrote “All the world’s a stage,” he may not have had firms doing business daily on different continents in mind, but there is no denying we are now a global economy. And while expanding your firm’s markets beyond the continental boundaries is great for business, providing your goods and services overseas isContinue Reading

Entrepreneurs these days are opting to put their money toward retirement instead of Rolexes.   That is because there are huge tax advantages to doing so. Self-employed individuals are able to sock a lot more away for retirement than are salary or hourly workers.   A 35-year-old entrepreneur who earns $150,000 can put a staggeringContinue Reading

Let all the filing begin! The Internal Revenue Service has announced that all tax-return filings that were held up by the 11th- hour negotiations and passage of the American Taxpayer Relief Act are now being accepted. There were 29 tax forms that were delayed as national leaders carved out the budget plan to avoid theContinue Reading

IRS relying on social media   While you may not be ready to “Like” the Internal Revenue Service, the IRS does continue to makes its presence felt on social media.   The government agency is increasing its involvement with social media, providing tax information and updates through various avenues. The IRS’ latest effort to engageContinue Reading

Learn impact of Relief Act on you   Now that the smoke and hoopla have cleared from passage of the “fiscal cliff’ legislation, is to time to look at: Just what does the new law mean for you?   The Tax Policy Center has examined the impact of the individual provisions as established in theContinue Reading

How the health care law is affecting small business   Despite the health care law being passed in 2010, there are as many questions about it now for small-business owners than there were on the heels of the law’s passage.   Health care exchanges, the shared responsibility penalty and the small employer’s health insurance taxContinue Reading

NEW FISCAL CLIFF LEGISLATION Highlights of a bill Congress passed Tuesday aimed at averting wide tax increases and budget scheduled to take effect with the new year. The measure would raise taxes by about $600 billion over 10 years compared with tax policies that were due to expire at midnight Monday. It would also delayContinue Reading

Small-business owners don’t need to wait to see how the “fiscal cliff” stalemate plays out to ensure tax breaks for themselves.   As anxiety levels rise for all taxpayers regarding the federal financial showdown, small-business owners sit as vulnerable as anyone to the tax hikes looming on the horizon. But rather than hopelessly sit gluedContinue Reading

The Internal Revenue Service has increased most deductions for vehicle use by a penny for 2013.   Business use of a vehicle will receive a deduction of 56.5 cents per mile. Moving and driving for medical purposes will be allowed at a 24-cent-per-mile deduction.   The rate of vehicle use for charitable purposes will remainContinue Reading