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Happy Birthday to our Marine Corp. and a huge THANK YOU to all Veterans and service members. Thank you for defending this freedom that we so easily take for granted. Thank You that we can wake up each morning to the sounds of nature or city, and not bombs and gunfire. Thank you that we […]
14 06
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 […]
30 01
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 […]
26 01
25 01
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 […]
25 01
The break allowing taxpayers to take an itemized deduction for state and local sales taxes in lieu of state and local income taxes was made “permanent” a little over a year ago. This break can be valuable to those residing in states with no or low income taxes or who purchase major items, such as […]
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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 […]
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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, […]
16 09
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 […]
