http://hbsbusiness.com/index.php/news/ Recent articles and news from HBS Tax in Martinsburg, WV. en hershbusiness@aol.com Copyright 2010 2010-07-07T19:30:54+00:00 http://hbsbusiness.com/index.php/site/articles/the_tax_gap_and_what_to_do_if_you_find_yourself_there/ http://hbsbusiness.com/index.php/site/articles/the_tax_gap_and_what_to_do_if_you_find_yourself_there/ The tax gap is the difference between taxes owed to the US Treasury and taxes actually paid by taxpayers. In my experience, the vast majority of individual noncompliance is not caused by intentional misstatement or willful neglect. What should you do if you find yourself lost in the tax gap? 2010-07-07T19:30:54+00:00 http://hbsbusiness.com/index.php/site/articles/press_release_hbs_special_olympics_torch_run/ http://hbsbusiness.com/index.php/site/articles/press_release_hbs_special_olympics_torch_run/ On Saturday, May 22, Brett Hersh, President of HBS Tax and of Growth Strategies, LLC, participated in the Law Enforcement “Torch Run” for Special Olympics 2010-06-28T14:06:16+00:00 http://hbsbusiness.com/index.php/site/articles/small_business_health_insurance_credit_explained/ http://hbsbusiness.com/index.php/site/articles/small_business_health_insurance_credit_explained/ Does your business or organization qualify for the “Small Employer Health Insurance Credit?”  Let’s piece together a few of the credit’s major components and help assemble an answer. 2010-06-28T13:49:50+00:00 http://hbsbusiness.com/index.php/site/articles/adoption_credit_and_the_health_care_bill/ http://hbsbusiness.com/index.php/site/articles/adoption_credit_and_the_health_care_bill/ Recent natural disasters, such as the earthquake that devastated Haiti, have impassioned those who see adoption as a way to help children escape danger and uncertainty.  At the same time, however, the cost of adopting (often upwards of $20-30,000) combined with the reality of economic recession and caused many who would like to adopt to put their plans on hold. 2010-05-21T13:16:51+00:00 http://hbsbusiness.com/index.php/site/articles/health_care_reform_changes_for_2010/ http://hbsbusiness.com/index.php/site/articles/health_care_reform_changes_for_2010/ Health Care Reform will touch the lives of every man, woman, and child in the United States.  Its long-term consequences; good and bad, intended and unintended, cannot be overstated.  2010-04-23T13:36:42+00:00 http://hbsbusiness.com/index.php/site/articles/tax_changes_to_keep_in_mind_for_2009/ http://hbsbusiness.com/index.php/site/articles/tax_changes_to_keep_in_mind_for_2009/ The US Tax Code, more exactly, United States Internal Revenue Code, Title 26 of the U.S. Code (26 USC) contains more than 3.4 million words.  Printed 60 lines per page, which requires a 10 point font, it would fill more than 7,500 letter-size pages. In today’s article, we will highlight a few of 2009’s tax year.  Keep this list handy as you gather your tax materials to save a few tax dollars on your 2009 income tax return. 2010-03-24T13:21:17+00:00 http://hbsbusiness.com/index.php/site/articles/taxes_and_homeowners_associations_a_confusing_combination/ http://hbsbusiness.com/index.php/site/articles/taxes_and_homeowners_associations_a_confusing_combination/ If you own a home in a planned community or development there is a good chance you are a member of a homeowners’ association (HOA).  One perplexing aspect of HOA management is following the tax reporting requirements of the IRS. 2010-02-17T18:56:46+00:00 http://hbsbusiness.com/index.php/site/articles/health_savings_accounts_a_financially_healthy_alternative/ http://hbsbusiness.com/index.php/site/articles/health_savings_accounts_a_financially_healthy_alternative/ Regardless of the side one takes in the health care debate, all differences center on the best way to meet a common, three-point challenge: How to: 1) reduce the cost of health care, while 2) maintaining the healthcare quality, and, 3) simultaneously increasing the number of Americans who have access to healthcare. 2010-02-03T19:37:22+00:00 http://hbsbusiness.com/index.php/site/articles/hbs_offers_free_first_time_home_buyer_tax_fact_flyer/ http://hbsbusiness.com/index.php/site/articles/hbs_offers_free_first_time_home_buyer_tax_fact_flyer/ In November, 2009 congress extended and expanded to First-Time Homebuyer Tax Credit.  The credit is now available to both “first-time” homebuyers, as well as those who have owned the same principle residence for any five consecutive years during the past eight year period. Download our free flyer for First Time Home Buyer Tax Facts. 2010-01-18T15:05:44+00:00 http://hbsbusiness.com/index.php/site/articles/enrolled_agents_unsung_tax_professionals/ http://hbsbusiness.com/index.php/site/articles/enrolled_agents_unsung_tax_professionals/ When clients learn I am an Enrolled Agent with the Internal Revenue Service a variety of responses follow.  Some panic, thinking I am an auditor or some sort of secret tax-agent.  Others mistakenly believe I am an employee of the IRS.  More often than not, however, I get the response “Enrolled Agent, what is that?” 2010-01-11T18:35:23+00:00