NH issues TIR explaining new BET credit carry forward rules
On September 8, New Hampshire DRA issued TIR 2014-005 clarifying certain changes related to the carry over period of any unused Business Enterprise Tax ("BET") credits. Under the New Hampshire business tax provisions, BET paid by an enterprise is allowed as a credit against any Business Profits Tax .....
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Eight Ways to Prevent Expense Account Fraud
Your employees may be cheating your company by turning in bogus expense reports. While each of these transactions may be small, they can add up to a bundle. Not only does expense account abuse erode profits, it creates an environment in which employees think they can get away with stealing -- and pe.....
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Risk Assessment – What Can Go Wrong?
Merriam-Webster defines risk as “the possibility that something bad or unpleasant (such as injury or loss) will happen”, whereas risk assessment is defined as “a systematic process of evaluating the potential risks that may be involved in a projected activity or undertaking.” External ver.....
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Tax Benefit of Separating Repairs from Improvements
There's a world of tax difference between repairs to real estate property and capital improvements. And it's not just semantics. The characterization could result in an increase or decrease of thousands of dollars on your tax return. Basic premise: Repairs are currently deductible in full and can.....
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Tax Court Sets Boundaries on Commuting Deductions
Although you usually can't deduct typical "commuting" expenses from home, you may qualify for a special exception if you're away working on temporary assignments. But the IRS and the Tax Court won't allow borderline deductions, as evidenced by one case involving a construction worker. We'll expla.....
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