PPS Blog 

To be tax-exempt under Section 501(c)(3) of the Internal Revenue Code, an organization must be organized and operated exclusively for any...

The Internal Revenue Service reminds those who make estimated tax payments such as self-employed individuals, retirees, investors,...

The Internal Revenue Service announced it has begun using voice and chat bots on two of its specialized toll-free telephone assistance...

For costs paid or incurred after September 8, 2008, the business can deduct a limited amount of start-up and organizational costs. They...

Taxpayers have two options when completing a tax return, take the standard deduction or itemize their deductions. Most taxpayers use the...

The Internal Revenue Service announced that the nation's tax season will start on Monday, Jan. 24, 2022, when the tax agency will begin...

Depreciation is an annual tax deduction that allows small businesses to recover the cost or other basis of certain property over the time...

The school year is in full swing. Many teachers are already dipping into their own pockets to buy classroom supplies that will help set...

Small business advertising and marketing costs may be tax deductible so it is good for small business owners to review which costs...

The Internal Revenue Service announced that the amount individuals can contribute to their 401(k) plans in 2022 has increased to $20,500,...

The IRS reminds all active federal tax return preparers they must renew their Preparer Tax Identification Numbers now for 2022. All...

Higher education/college tax credits reduce the amount of tax someone owes. If the credit reduces tax to less than zero, the taxpayer...

The educator expense deduction allows eligible teachers and administrators to deduct part of the cost of technology, supplies, and...

Many people are engaged in hobby activities that are also a source of income. For example, some people started selling handmade items...

The Internal Revenue Service reminds taxpayers that the cost of home testing for COVID-19 is an eligible medical expense that can be paid...

The Internal Revenue Service announced it is providing transition relief to certain employers claiming the Work Opportunity Tax Credit...

Like-kind real estate exchanges, or 1031 exchanges, have been an integral part of real estate investment for many years, dating back to...

Understanding IRA's is important for those who are planing for retirement. Individual Retirement Arrangements, or IRAs, provide tax...

The taxation of hobby income activities is an interesting subject. Many people are engaged in hobby activities that are also a source of...

The Internal Revenue Service launched two new online tools designed to help families manage and monitor the advance monthly payments of...