Featured News

COVID-19 Relief for Users of the Automobile Lease Valuation Rule

The IRS has provided relief from the consistency rules to certain employers and employees that use the automobile lease valuation rule to determine the value of an employee’s personal use of an employer provided automobile as a result of the COVID-19 pandemic. Many employers suspended operations and changed their employees

Education Credits

With school back in session, parents and students should look into tax credits that can help with the cost of higher education. Credits reduce the amount of tax someone owes on their tax return. If the credit reduces tax to less than zero, the taxpayer may receive a refund. There

Sales Tax Ruling Related to Professional Organization Memberships

The Tennessee Department of Revenue has ruled that a professional organization’s sales of memberships were not taxable. The organization provided its members with certifications, resources, tools, academic research, publications, professional development courses, and networking opportunities. The individual membership included the following: certification status tracking, the ability to download a free

Safe Harbor for Teacher’s Expense Deduction

The Consolidated Appropriations Act, 2021 clarifies that the above-the-line deduction for teacher classroom expenses includes personal protective equipment, disinfectant, and other supplies used for the prevention of the spread of COVID–19 paid or incurred after March 12, 2020. The IRS is providing a safe harbor for eligible educators to deduct