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Profitability

New Rules May Affect Your Businesses

December 7, 2016

New laws and regulations could have an impact on how you manage your business or your tax planning. Below is a summary of important developments you should be aware of: In a change from past rules, businesses must file all Forms W-2 and W-3 and some Forms 1099-MISC with the IRS and the Social Security […]

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Some Tax Refunds Will Be Delayed in 2017

November 29, 2016

As the holidays approach, the Internal Revenue Service today reminded taxpayers to remember that a new law requires the IRS to hold refunds until mid-February in 2017 for people claiming the Earned Income Tax Credit (EITC) or the Additional Child Tax Credit (ACTC). In addition, new identity theft and refund fraud safeguards put in place […]

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Congratulations Beth Goddard!

November 10, 2016

Beth Goddard is celebrating 10 years of service with Person Huff CPA Group! She provides accounting and tax services as well as computer technical support and training for individuals, small businesses, and non-profit organizations. She specializes in small business accounting software including Peachtree, QuickBooks, PCLaw, and Champion. She has been an officer in many non-profit […]

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PHISHING ALERT: Fake QuickBooks Email

November 10, 2016

Several of our staff members recently received emails that claimed to be from QuickBooks and wanted us to follow a sign-in link, presumably so that we could enter our credit card information to ‘subscribe’ to QuickBooks. The email was designed to look very genuine and as you can see by enlarging this image, many of […]

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Should Louisiana Raise Taxes Again?

June 13, 2016

Two interesting and related articles this morning – the first from The Advocate regarding a poll about raising taxes during the upcoming Special Session: FULL ARTICLE ON BUSINESSREPORT.COM “Roughly seven in 10 Louisianans, or 72%, believe increasing taxes will keep businesses from relocating to The Bayou State, according to the results of a poll of […]

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2016 Tax Deadlines

April 5, 2016

This year, the tax deadline falls on April 18, 2016. That’s the deadline to file personal tax returns (such as Form 1040) with the Internal Revenue Service. Normally, the deadline is April 15th. But this year, April 15th is Emancipation Day, a legal holiday in the District of Columbia. Under a special rule, whenever the […]

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Update: Important Changes To Sales and Corporate Taxes

March 23, 2016

Louisiana recently passed significant changes affecting the application of sales and use tax. These changes go into effect April 1, 2016 and remain in effect for 18 months, ending after June 30, 2018. The temporary taxes include a 1% increase to Louisiana’s 4% sales tax and the lessening of many sales tax exemptions. Louisiana’s state-level […]

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Tax Breaks For the Self-Employed

February 17, 2016

There are a number of tax breaks that are often overlooked by entrepreneurs. Among the most common missed credits: Health Insurance Deduction: The deduction is for medical, dental or long-term care insurance premiums that self-employed people often pay for themselves, their spouse and their dependents. The insurance can also cover your child who was under […]

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Non-Profits and Donor TINs

February 13, 2016

The IRS withdrew proposed regulations released last September that would have allowed charities to file information returns with the IRS and donors instead of providing contemporaneous written acknowledgments of charitable donations. Charities that elected to use the new procedure would have been required to obtain donors’ Social Security or other tax identification numbers (TINs) to […]

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