What You Need to Know About Implementing the Changes of ASC 606: Revenue Recognition

We keep you updated with the latest news from Martin Hood and helpful information whenever there is a change to employment or tax laws.

What You Need to Know About Implementing the Changes of ASC 606: Revenue Recognition

October 1, 2018

What You Need to Know About Implementing the Changes of ASC 606: Revenue Recognition

What is ASC 606: Revenue from Contracts with Customers? In an effort to standardize how companies and industries recognize revenue, the FASB’s…

Have You Done a Paycheck Check-up?

August 29, 2018

Have You Done a Paycheck Check-up?

The IRS is advising taxpayers to perform a “paycheck checkup” to avoid any surprises when they file their 2018 tax returns. This…

What Do You Do with Tax Information Received After You’ve Filed?

August 23, 2018

What Do You Do with Tax Information Received After You’ve Filed?

You filed your tax return before the April 15th deadline and you assume you’re all done for the year. After that point,…

Tax Benefits of Having Children

August 3, 2018

Tax Benefits of Having Children

Every parent knows that raising a child comes with many joys and difficulties. Those sleepless nights become a distant memory as you…

IRS Drafting New Version of Form 1040

July 11, 2018

IRS Drafting New Version of Form 1040

To go along with the recent tax reform, the IRS is currently drafting a new version of the Form 1040. What exactly…

Ruling: Supreme Court Gives States More Authority to Collect Sales Tax

June 22, 2018

Ruling: Supreme Court Gives States More Authority to Collect Sales Tax

The State and Local Tax team has been discussing the ramifications if the Supreme Court ruled in favor of the states and…

Calls from the IRS — Real or a Scam?

June 20, 2018

Calls from the IRS — Real or a Scam?

Many taxpayers have received threatening phone calls from scammers impersonating IRS employees. The frequency of the scam phone calls seems to be…

Student Loan Interest Rates on the Rise

May 24, 2018

Student Loan Interest Rates on the Rise

Student loan interest rates are on the rise for the coming school year. According to the federal Department of Education, students can…

Things to Consider on the New Tax Law with Charitable Contributions

May 16, 2018

Things to Consider on the New Tax Law with Charitable Contributions

The new tax law does not change the rules for charitable contributions; however it has changed the dynamics of the tax environment,…

Benefits of Filing Your Extended Return Early

May 8, 2018

Benefits of Filing Your Extended Return Early

With the April tax deadline behind us, most individuals have either filed their returns or filed for an extension. The extension deadline…