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Archive for November 9th, 2017

apresti

Tax reform takes on new momentum as year-end approaches

Tax reform takes on new momentum as year-end approaches Tax reform discussions continue on Capitol Hill with legislation expected to be released very soon. GOP lawmakers in the House and Senate appear to be aiming for a comprehensive overhaul of the Tax Code. President Trump and Republicans in Congress have set out an ambitious schedule […]

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lvarela

Year-end tax planning for 2017: challenges/opportunities

Year-end tax planning for 2017: challenges/opportunities Year-end tax planning can provide most taxpayers with a good way to lower a tax bill that will otherwise be waiting for them when they file their 2017 tax return in 2018. Since tax liability is primarily keyed to each calendar tax year, once December 31, 2017 passes, your […]

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dsager

IRS reminds taxpayers of ACA requirements; White House seeks administrative changes

IRS reminds taxpayers of ACA requirements; White House seeks administrative As the 2018 filing season nears, the IRS is reminding taxpayers that the Affordable Care Act (ACA) remains on the books. The ACA’s reporting requirements for individuals have not been changed by Congress. At the same time, the Trump Administration has proposed administrative changes to […]

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apresti

FAQ: How does a business handle holiday gift-giving?

FAQ: How does a business handle holiday gift-giving? Holiday gifts made to customers are generally deductible as ordinary and necessary business expenses as long as the taxpayer can demonstrate that such gifts maintain or improve customer goodwill. Such gifts must bear a direct relationship to the taxpayer’s business and must be made with a reasonable […]

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apresti

How do I? Compute the Nanny Tax

How do I? Compute the Nanny Tax Nanny tax. For purposes of federal tax, employers must withhold and pay FICA taxes (7.65%) if they paid a household employee cash wages of at least $2,000 in 2016 or in 2017 ($2,100 in 2018). Employers must pay FUTA tax (6%) if they paid total cash wages of at […]

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apresti

November 2017 tax compliance calendar

November 2017 tax compliance calendar As an individual or business, it is your responsibility to be aware of and to meet your tax filing/reporting deadlines. This calendar summarizes important federal tax reporting and filing data for individuals, businesses and other taxpayers for the month of November 2017. November Employers. During November, ask employees whose withholding allowances […]

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