Beginning in 2017, there are important changes to the IRS Form 1099 filing and reporting requirements, including earlier due dates and the potential for significant penalties for late and incomplete filings.
It’s no secret that getting married can affect your taxes, but just how much of an effect will depend on your circumstances. In the first of this two-part series we explore some of the practical steps to take leading up to the wedding.
If your children work at your business, they’re entitled to be paid and the business is entitled to a deduction just like you would for anyone else, but what if you try to pay them a bonus?
The IRS has issued proposed regulations that can have significant effects on the valuation of closely-held business interests for gift and estate tax purposes. Here’s what you need to know in order to act before the rules change…
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.
