July 2016 Client Bulletin
Our July bulletin takes a closer look at the new Federal Fiduciary Rule and what it means to investors, ETFs (they can be plain or fancy), and the differences between Disaster Planning and Succession Planning.
Newsletters & Articles
The Home Office Deduction – The Sword Cuts Two Ways
A taxpayer is generally allowed to deduct the expenses attributable to running a home office provided the space is used exclusively for that purpose. The rules permit a deduction for all the expenses attributable to running the household, including depreciation, … Continued
June 2016 Client Bulletin
Our June client bulletin takes a look at different takes on how to compensate summer interns, planning for today’s pensions, and the risks associated with putting money into timeshares.
Handling the New Overtime Rules in Your Small Business
What’s the deal? Effective December 1, 2016, the new overtime rules are changing the exemptions that currently allow employers to avoid paying overtime to certain employees. Currently, employees making less than a certain salary threshold must be paid overtime (the … Continued
Increased Penalties for Failure to File Information Returns
The Trade Preference Extension Act (the TPE) became law on 6/29/15, and included in it were a few little-noticed but significant changes to the penalties for failing to file required information returns (i.e. 1099s and W-2s) and, in some cases, … Continued
Can I Bonus That? A Lesser Known Change to Bonus Depreciation from the PATH Act
The PATH Act (Protecting Americans from Tax Hikes) made several changes to bonus depreciation, most notably extending it through 2019 for most types of assets. However, another change slipped through with much less fanfare that can still lead to significant … Continued
May 2016 Client Bulletin
Our May client bulletin looks at C-Corps vs. S-Corps/LLCs when it comes to Qualified Small Business Stock, taxes on lottery and gambling winnings, and handling health insurance through divorce.
IRS Launches Early Interaction Initiative To Maintain Payroll Tax Compliance
The IRS has developed a new initiative to remind employers of their payroll tax obligations and to prevent the pyramiding of missed deposits. The Early Interaction Initiative will make expanded use of federal tax deposit alerts (FTD Alerts) to help … Continued
NYC to Require Pre-Tax Transit Benefits if 20 or More Full-Time Employees
Mayor Bill de Blasio recently enacted Intro 295-A, which requires New York City companies with 20 or more full-time employees to offer pre-tax transit benefits. The bill encourages employers to take advantage of an existing federal tax benefit, which already allows … Continued
Identity Theft Update
The volume and magnitude of identity theft incidents have grown to an alarming extent. Last year, more than 9.9 million Americans were victims of identity theft, a crime that cost them roughly $5 billion. Tax-related identity theft crimes have also … Continued