News & Insights

IRS Has 3 Years to Audit Tax Shelters

Here’s a huge win for business taxpayers. Well, it’s a win for those involved in Son of Boss tax shelters. Generally, the IRS can’t audit your company for anything over three years back. Now, after the recent Supreme Court ruling, the IRS 3-year rule also applies to Son of Boss tax shelters. Son of Boss tax shelters have been a major source of IRS tax revenue. First, though, do you know what exactly a tax shelter is? The definition of “tax shelter”
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Better to Promote Than Hire Externally: Study

External hiring decisions are important for any small business, but it may make more business sense to promote from within , a new study finds. External hires are usually more costly for a business in more ways than one, according to the study by Matthew Bidwell of the University of Pennsylvania’s Wharton School of Business. External hires also take about two years to “get up to speed” in their new position, the study found. “My research documents some quite substantial costs to external hires and some substantial benefits to internal mobility,” Bidwell said in a statement. His research found:…
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Environment Key to Preventing Childhood Disabilities

ScienceDaily (May 1, 2012) – The United States government would get a better bang for its health-care buck in managing the country’s most prevalent childhood disabilities if it invested more in eliminating socio-environmental risk factors than in developing medicines.
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