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

    President Barack Obama’s budget for the 2014 fiscal year calls for $580 million in new taxes and limits on tax deductions.   The spending plan, unveiled this week, has many of the same elements the president proposed during the fiscal cliff discussions. Obama’s budget institutes the Buffet Rule ensuring that millionaires pay aContinue 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

  Not that the Internal Revenue Service is expecting a card or anything (just your tax return and maybe a check will do), but the federal income tax is celebrating a milestone birthday. Instituted by Woodrow Wilson (another reason he doesn’t make anyone top 10 presidents list), the federal income tax reaches the century markContinue 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

We are bombarded on a daily basis with news, as well as propaganda from both sides of the aisles, on the “fiscal cliff.”   But before we reach the rapidly approaching deadline with far-reaching financial implications, wouldn’t it be good to know just what is at stake and how you will be affected if ourContinue Reading