December 08, 2015
Andrew Presti
Blog Posts
0 CommentsHow Do I? Compute payroll taxes as an employer A business that has employees must withhold income taxes on payments to each employee. Each employee must first fill out Form W-4, Employee’s Withholding Allowance Certificate, and provide it to the employer. On the form the employee can claim exemptions, such as the personal exemption or […]
Read moreDecember 08, 2015Andrew PrestiBlog Posts0 CommentsPrivate tax collection poised for possible return Tucked into the pending highway and transportation spending bill is a provision authorizing the IRS to outsource some tax collection activities. If this sounds familiar, it is. Several times in the past 20 years, the IRS has contracted with private sector debt collection agencies for tax collection work. […]
Read moreDecember 08, 2015Andrew PrestiBlog Posts0 CommentsLast-minute tax planning strategies to consider as the 2015 tax year closes In between preparing for the year-end holidays, school vacations, travel, work, and so on, tax planning should not be on the back burner. Although 2015 is quickly coming to a close, there is still time, with careful planning, to execute some last minute […]
Read moreNovember 15, 2015Andrew PrestiBlog Posts0 CommentsNovember 2015 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 tax reporting and filing data for individuals, businesses and other taxpayers for the month of November 2015. November 4 Employers. Semi-weekly depositors must deposit employment taxes […]
Read moreNovember 15, 2015Andrew PrestiBlog Posts0 CommentsFAQ: When is Equipment “Placed in Service”? For a business to start writing off the cost of depreciable equipment and property, it is necessary that the equipment be placed in service. To write off costs in 2015, the equipment must be placed in service by December 31, 2015. The “placed-in-service” requirement applies, for example, for […]
Read moreNovember 15, 2015Andrew PrestiBlog Posts0 CommentsHow Do I…Shift Taxable Income into 2016? As the calendar approaches the end of 2015, it is helpful to think about ways to shift income and deductions into the following year. For example, spikes in income from selling investments or other property may push a taxpayer into a higher income tax bracket for 2015, including […]
Read moreNovember 15, 2015Andrew PrestiBlog Posts0 CommentsSmall businesses score victory with PACE Act, wait for fix on health reimbursement arrangements Small businesses received some welcomed news in October with passage of the Protecting Affordable Coverage for Employees (PACE) Act. The new law revises the definition of small employer for purposes of market reforms under the Affordable Care Act (ACA). The PACE […]
Read moreOctober 12, 2015Andrew PrestiBlog Posts0 CommentsOctober 2015 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 tax reporting and filing data for individuals, businesses and other taxpayers for the month of October 2015. October 2 Employers. Semi-weekly depositors must deposit employment taxes […]
Read moreSeptember 11, 2015Andrew PrestiBlog Posts0 CommentsSeptember 2015 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 tax reporting and filing data for individuals, businesses and other taxpayers for the month of September 2015. September 2 Employers. Semi-weekly depositors must deposit employment taxes […]
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