Educational Articles

At Burkett Burkett & Burkett Certified Public Accountants, P.A., we seek to inform and educate our clients and community. We invest in the creation of quality content as a service to those who may find it helpful in pursuing both business and personal financial success.

Excise Tax Relief for Employers Failing to Meet Group Health Plan Requirements Ends June 30, 2015

An excise tax is imposed on employers for any failure of their group health plans to meet group health plan requirements with respect to: portability, access, and renewability requirements; benefits for mothers and newborns; mental health benefits; dependent students on medically necessary leave of absence; and the Affordable Care ...

Key Tax Developments, Quarter 1

The first quarter of 2015 has been busy! We’ve compiled some key tax developments from early 2015 that may benefit you in your tax planning and compliance. Here are a few highlights: Transition relief may help employers retroactively claim tax credit allowances for certain employees using the Work Opportunity Tax Credit (WOTC) ...

Don’t Miss an Important Tax Deduction This Year

Executive Vice President, Donny Burkett, sat down with WLTX 19 News earlier this week to talk about something that’s on everyone’s mind this month: taxes. Lucky viewers got to learn about common deductions and credits that are typically missed when filing taxes. You might have missed some, too, so let’s recap. At the top of [&hel...

South Carolina Personal Income Tax Paper Check Refunds to be Issued for Certain Taxpayers

The Department of Revenue (DOR) has announced additional measures to help combat fraudulent tax returns and attempts to steal taxpayer tax refunds. The DOR is implementing enhanced measures including the conversion of some direct deposit refunds to paper checks. The targeted conversion of some refunds began last week, and affected ...

Key Tax Developments, Quarter 4

We’ve identified several of the latest developments relating to tax-exempt accounts, mileage reimbursement, IRA rollovers and more for the fourth quarter of 2014. Focus points for this quarter include: · New tax-advantaged savings accounts for disability-related expenses · How the Affordable Care Act impacts 2014 income tax returns · ...

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