Update Your Mileage Rate Reimbursements For 2017
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Update Your Mileage Rate Reimbursements For 2017

If you intend to use your vehicle for business, charitable activities, medical appointments, or moving during 2017, be aware that the optional standard mileage rates for computing the deductible costs have changed.

Read full post  |  Posted by on 01.04.17


Do You Need To Revise Your Final Estimated Payment?

The last installment of your 2016 estimated federal income tax is due January 17, 2017.

Read full post  |  Posted by on 01.04.17


Year-End Is Fast Approaching

Consider these planning ideas:

Sell stocks currently held at a loss. You can write off the first $3,000 of those losses as an ordinary loss and the excess capital loss can be used to offset capital gain.

Read full post  |  Posted by on 12.22.16


2016 Year-End Tax Planning for Individuals

Individual income taxes, whether paid through employer withholding or quarterly estimates, are probably one of your largest annual expenditures. So, just as you would shop around for the best price for food, clothing, or merchandise, you want to consider opportunities to reduce or defer your annual tax obligation. This Tax Letter is intended to assist you in that effort. 

Read full post  |  Posted by on 12.16.16


2016 Year-End Tax Planning for Businesses

The time to consider tax-saving opportunities for your business is before its tax year-end. Some of these opportunities may apply regardless of whether your business is conducted as a sole proprietorship, partnership, limited liability company, S corporation, or regular corporation. Other opportunities may apply only to a particular type of business organization. This Tax Letter is organized into sections discussing year-end, and year-round, tax-saving opportunities for:

Read full post  |  Posted by on 12.16.16


A Comparison of Trump and House GOP Tax Reform Proposals

Comparing the House GOP plan to the Trump Plan: while there are many differences in the extent of tax relief promoted by each plan (with Trump's being by far the more generous), there are many similarities on key issues, including significant cuts in both individual and business tax rates, repeal of the estate tax and efforts to position U.S. businesses to compete on a more level playing field internationally. 

Click here for a comparison of the House GOP plan and the Trump plan by Holland & Knight: www.hklway.com

Read full post  |  Posted by on 12.07.16


2016 YEAR-END TAX PLANNING

2016 Year-End Strategies: StraddlingTwo Years Of Significant Change

Implementing tax strategies at year-end always presents unique challenges and opportunities. The impact of recent tax legislation and significant IRS rule changes during 2016 raises the stakes. The Protecting Americans from Tax Hikes Act (PATH Act), passed in late 2015, changed —both dramatically and through some nuanced revisions— the dynamics of planning for the expiration of various tax breaks …and the permanence of others. The IRS for its part has been busy creating safe-harbor benefits under the “repair regulations,” clarifying the definition of marriage for tax purposes, fine-tuning Affordable Care Act requirements, and more, all of which immediately impact the 2016 tax year.

Read full post  |  Posted by on 10.07.16


ACA and Employers: How Seasonal Workers Affect Your ALE Status

When determining if your organization is an applicable large employer, you must measure your workforce by counting all your employees.  However, there is an exception for seasonal workers.

Read full post  |  Posted by on 07.21.16


Form 5500 Due Date Is Approaching

August 1, 2016, is the deadline for filing Form 5500 for retirement or employee benefit plans on a calendar year. (The usual due date of July 31, 2016, is a Sunday.) 

Read full post  |  Posted by on 07.06.16


Make Time For Midyear Tax Planning

One benefit of midyear tax planning is that you have a solid foundation for making decisions and enough time to implement them.

Read full post  |  Posted by on 06.20.16


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