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Here are your articles for Mar 23, 2017.

2017 marks CDL's 30th year in business.  To celebrate our success, we want the community to get to know us a little better.  Over the course of the year, we will have interviews with Shareholders and staff about their experience at CDL, what has driven their success, and maybe even a few fun facts.  We are very excited to celebrate this milestone.

This month's 30th Anniversary Spotlight Interview is with Michelle Price, one of our Tax Supervisors who has been with the Firm for almost 22 years.  Please click the "Full Article" link to read the whole interview.



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Cybercriminals are using more sophisticated tactics to try and steal data that allows them to impersonate legitimate taxpayers, file fraudulent tax returns and steal refunds. For a second time, the IRS reports that a Form W-2 scam is making the rounds through payroll and human resources departments in an attempt to gain personal information about employees. Here's a description of the scam.



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Keeping employees motivated and on task requires that they be free of the influence of drugs. That's not just illegal drugs, but also some legal drugs that could interfere with safety at work. Yet creating and enforcing a drug-testing policy can give rise to a minefield of problems. Here's an overview of what you need to consider.


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Self-employed individuals and small business owners can still claim a deduction on their 2016 tax return for contributions to simplified employee pensions (SEPs) that are made before their tax return due date. If you haven't set up a retirement plan yet, consider using a SEP to lower your 2016 tax bill. Here are the details on how these accounts work.


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IRS examiners use Audit Techniques Guides (ATGs) to prepare for audits — and so can small business owners. These publications provide detailed information about an industry or audit-prone business transaction. For example, some ATGs are devoted to cash-intensive businesses, such as restaurants and bars. Another recently updated guide covers golden parachutes paid in corporate takeovers. Here, we explain ATGs and the types of information they may provide.
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Do you have students in your family who may be eligible for federal tax credits for post-secondary education expenses? If so, there have been several recent developments that may affect your 2016 tax return. Here, we cover the basics of higher education credits, two relevant Tax Court cases and recent regulations that you should consider when claiming the American Opportunity and Lifetime Learning credits. 
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For federal tax purposes, a partnership can exist even if no partnership exists for state-law purposes. In one U.S. Tax Court case, two brothers operated two side businesses and considered themselves partners. But they didn't file a partnership tax return — and that got one brother in trouble with the IRS in an audit. Here's how the court ruled.
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Current deductions are not allowed for most expenses incurred while a business is still in the start-up phase. For tax purposes, the business must be functioning at the time the expenses are incurred. Many entrepreneurs may be unaware of this rule. This article explains the tax rules for start-up companies.
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Most itemized deductions on an individual federal tax return are fairly well known. But miscellaneous itemized deductions are typically less well known and often misunderstood. This article provides many examples of items that may qualify as miscellaneous itemized deductions and discusses the rules for claiming them.
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Our firm provides the information in this e-newsletter for general guidance only and does not constitute the provision of legal advice, tax advice, accounting services, investment advice, or professional consulting of any kind. The information provided herein should not be used as a substitute for consultation with professional tax, accounting, legal, or other competent advisers. Before making any decision or taking any action, you should consult a professional adviser who has been provided with all pertinent facts relevant to your particular situation. Tax articles in this e-newsletter are not intended to be used, and cannot be used by any taxpayer, for the purpose of avoiding accuracy-related penalties that may be imposed on the taxpayer. The information is provided "as is," with no assurance or guarantee of completeness, accuracy, or timeliness of the information, and without warranty of any kind, expressed or implied, including but not limited to warranties of performance, merchantability and fitness for a particular purpose.


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