Accounting and Tax Services for Small Businesses and Individuals in the Des Moines, Iowa Area and Beyond
In tax terminology, the phrase “tax benefit rule” refers to whether or not a refund or recovery received in a future year is taxable. For example, whether or not a state income tax refund is taxable on your federal return depends on the “tax benefit rule.”
The Dinesen Tax Times
I think tax reform will be a mixed bag for preparers ... those of us who deal with average folks will likely be hurt, while the firms that deal mainly with businesses will likely benefit.
I'm always confused when an unethical client bothers seeking out the help of a licensed professional.
Long-term care premiums are deductible in full on the Iowa tax return, NOT subject to the federal limitations.