This month’s client bulletin is all about year-end tax planning, including detailed looks into itemized deductions like state taxes paid, charitable contributions and medical expenses, as well as year-end planning for your retirement and for your business.
NOLs have been in the news lately, so it seemed like a good time for an overview. What is an NOL? What is a carryover? How do they work?
The IRS recently announced the upcoming use of private agencies for debt collections. Here’s what you, the taxpayer, need to know…
Our October client bulletin focuses on some important financial steps to take after the birth of a child, the tax consequences of investing in gold, and the inner workings of a successful wellness program.
The New York Department of Taxation and Finance issued a reminder regarding a sales tax exemption available to software and web devs/designers on the purchase of computer hardware, provided that it is used more than 50% of the time for either designing/developing software for sale, providing web design/development consulting services, or some combination of both.
The PATH Act added a new class of nonresidential real property, qualified improvement property, which is now eligible for bonus depreciation irrespective of its recovery period. That means that, unlike before, bonus depreciation can now be taken on certain real property improvements with recovery periods of 39 years.
Our September 2016 client bulletin takes a closer look at the customization of target-date investment funds, drawing down your portfolio in retirement, and setting paid-time-off policies for small businesses.
…Depends on what? Among other things, on how long you’ve owned your home and whether it’s your principal residence. Generally, if you profit from the sale of property you have to pay capital gains tax on that profit. However, tax … Continued
The IRS has announced its acquiescence with regards to the mortgage interest deduction. The Ninth Circuit Court of Appeals, reversing the Tax Court, found that when multiple unmarried taxpayers co-own a qualifying residence, the debt limit provisions apply per taxpayer and not per residence.
What are marginal tax rates and how do they affect my take-home pay?
