Pay attention to the details when selling investments

Selling Investments?

The tax consequences of the sale of an investment, as well as your net return, can be affected by a variety of factors. You’re probably focused on factors such as how much you paid for the investment vs. how much you’re selling it for, whether you held the investment long-term (more than one year) and […]

Read more

Want to save for education? Make 2017 ESA contributions this year.

ESA

There are many ways to save for a child’s or grandchild’s education. But one has annual contribution limits, and if you don’t make a 2017 contribution by December 31, the opportunity will be lost forever. We’re talking about Coverdell Education Savings Accounts (ESAs). How ESAs work With an ESA, you contribute money now that the […]

Read more

2017 Q1 tax calendar: Key deadlines for businesses and other employers

2017 calendar

Here are some of the key tax-related deadlines affecting businesses and other employers during the first quarter of 2017. Keep in mind that this list isn’t all-inclusive, so there may be additional deadlines that apply to you. Contact us to ensure you’re meeting all applicable deadlines and to learn more about the filing requirements. January […]

Read more

A brief overview of the President-elect’s tax plan for individuals

tax changes indiv trump

Now that Donald Trump has been elected President of the United States and Republicans have retained control of both chambers of Congress, an overhaul of the U.S. tax code next year is likely. President-elect Trump’s tax reform plan, released earlier this year, includes the following changes that would affect individuals: Reducing the number of income […]

Read more

A quick look at the President-elect’s tax plan for businesses

Proposed Tax Changes

The election of Donald Trump as President of the United States could result in major tax law changes in 2017. Proposed changes spelled out in Trump’s tax reform plan released earlier this year that would affect businesses include: Reducing the top corporate income tax rate from 35% to 15%, Abolishing the corporate alternative minimum tax, […]

Read more

Last year for energy tax credit on windows

Energy Credit for Windows

A limited tax credit is still available for energy-savings items added to  your residence by December 31, 2016.  The credit is 10% of the cost of those items and is limited to $500.  Prior year credits reduce the $500 maximum.  Certain items are capped: No more than $50 for circulating fans, $150 for furnaces and […]

Read more

Tax impact of investor vs. trader status

Analyzing stock market graph

If you invest, whether you’re considered an investor or a trader can have a significant impact on your tax bill. Do you know the difference? Investors Most people who trade stocks are classified as investors for tax purposes. This means any net gains are treated as capital gains rather than ordinary income. That’s good if […]

Read more

1 2 3 7
top