July 15, 2015
Andrew Presti
Uncategorized
0 CommentsJuly 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 July 2015. July 1 Employers. Semi-weekly depositors must deposit employment taxes […]
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July 15, 2015Salvatore RussoBlog Posts0 CommentsHow Do I? Determine when the “at risk” rules apply to my business Taxpayers that invest in a trade or business or an activity for the production of income can only deduct losses from the activity or business if the taxpayer is at risk for the investment. A taxpayer is at risk for the amount […]
Read moreJuly 15, 2015Salvatore RussoBlog Posts0 CommentsTreasury, IRS get moving on ABLE account rules Late in 2014, Congress passed and President Obama signed into the law the Achieving a Better Life Experience (ABLE) Act. The new law, which enjoyed strong bipartisan support, authorizes the creation of tax-favored accounts for qualified individuals challenged by disabilities. Congress instructed Treasury and the IRS to […]
Read moreJuly 15, 2015Salvatore RussoBlog Posts0 CommentsSupreme Court’s same-sex marriage decision affects federal, state taxation The Supreme Court’s decision in Obergefell v. Hodges (2015-1 ustc ¶50,357) on June 26, 2015 continues what was set in motion in 2013: the expansion of tax benefits to same-sex married couples. In Obergefell, the Court ruled 5 to 4 that the Fourteenth Amendment requires a […]
Read moreJuly 15, 2015Salvatore RussoUncategorized0 CommentsFAQ…Can I deduct the cost of sending my child to summer camp? Now that summer 2015 is officially here and the main filing season is out of the way, tax planning may be far from your mind. However, typical summer traditions can yield tax benefits. For example, when school lets out for the summer, some […]
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July 15, 2015Wayne NaegeleUncategorized0 CommentsSupreme Court upholds ACA Code Sec. 36B premium tax credit regs After months of waiting, the U.S. Supreme Court announced its decision on the fate of the Code Sec. 36B premium assistance tax credit on June 25 in King v. Burwell, 2015-1 ustc ¶50,356. In a 6 to 3 decision, the Court held that enrollees […]
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