Archive for the ‘Blog’ Category

Getting a Head Start on 2017 (taxes that is!)

01/11/17 3:13 pm | Comments (0) | Posted By:

It’s only November but there’s still time to make the filing of your 2017 tax return less taxing in 2018. Withholding and Estimated Taxes. Make sure enough taxes are withheld to avoid surprises at tax time. Generally taxes are withheld from wages and other income such as pensions, bonuses, commissions and gambling winnings. Taxpayers with int...

Tax Planning Tips for the Dog Days of Summer

11/08/16 12:22 pm | Comments (0) | Posted By:

As we approach the last month of summer, many of us are still trying to gather documents to finalize the 2015 tax returns due in the next few months. But these are the prime months to begin the planning procedures to reduce your taxes in 2016. With the passing of the PATH Act of 2015 last year, the looming issues of expiring tax deductions have ...

IRS Increases the “De Minimis Safe-Harbor Election” to $2,500 per Invoice

14/01/16 4:03 pm | Comments (0) | Posted By:

Two years ago the Treasury Department implemented new Tangible Property Regulations through the passing of TD 9636. The new regulations contained a “Safe Harbor” election to expense any piece of tangible property purchased under $500. Many felt this was too low and increased the administrative burden on small businesses along with the IRS. Af...

Tax season is almost here!

07/01/16 11:53 am | Comments (0) | Posted By:

It is never too early to start thinking about the upcoming tax season. The closer to the filing deadline it gets, the more pressure you will feel when getting your documents together and the possibility that something could be missed may increase. The other side of that is your tax preparer will get busier and busier as the tax deadline nears, w...

Year-End Tax Planning – Don’t Wait Until the Last Minute

01/10/15 11:33 am | Comments (0) | Posted By:

Now is the time to think about year-end tax planning strategies. While no significant change in tax rates is expected for 2016, there are still year-shifting maneuvers that could be employed if you expect to be in either a higher or lower tax bracket for 2016. For instance, if you anticipate being in a lower tax bracket next year, you should ...

Now is the Time to Start your Year-End Tax Planning

30/08/12 7:14 pm | Comments (0) | Posted By:

Next year, unless Congress acts before the end of 2012, year-end tax planning will be challenging. Since 2013 tax rates are set to go up, the conventional wisdom of deferring income into subsequent years should be reconsidered. Thus certain high-income taxpayers may want to actually accelerate income into 2012 rather than deferring income into 2...