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Archive for December 13th, 2016

srusso

Major tax changes expected under Trump Administration

Major tax changes expected under Trump Administration One month after the presidential election, taxpayers are learning more about President-elect Donald Trump’s tax proposals for his administration. Although exact details, including legislative language, are likely months away, taxpayers have a snapshot of the president-elect’s tax proposals for individuals and businesses. Note. At the time this article […]

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sgrgas

2016 year-end tax strategies with tax cuts on the horizon

2016 year-end tax strategies with tax cuts on the horizon The likelihood exists that federal tax-cut legislation will become law sometime in 2017. Nevertheless, the possibility also remains that comprehensive tax legislation may be delayed until 2018 either because of difficult negotiations or intervening events, or it could eventually even get tabled indefinitely, except for […]

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wnaegele

What to expect on 2016 Form 1040: Key changes

What to expect on 2016 Form 1040: Key changes Each new filing season may bring changes to the Form 1040, U.S. Individual Income Tax Return, as well as draft instructions for Form 1040 and any related Schedules, and this year is of no exception. The following highlights some of the changes to 2016 Form 1040, […]

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srusso

FAQ: How is virtual currency taxed?

FAQ: How is virtual currency taxed? Virtual currency – often referred to as ‘bitcoin” — is a mystery for many people but an everyday currency for others. As virtual currency grows in popularity, questions arise about its taxation. The IRS treats virtual currency as property and not as currency. This means that general tax principles […]

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srusso

How do I? Figure the child care credit

How do I? Figure the child care credit Child care can undoubtedly prove to be a costly expense for any taxpayer. In some instances, taxpayers must weigh whether the cost of child care is a deterrent to returning, or, in some cases, entering the workforce. Although the IRS may not be able to control market […]

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srusso

December 2016 tax compliance calendar

December 2016 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 federal tax reporting and filing data for individuals, businesses and other taxpayers for the month of December 2016.  December 2 Employers. Semi-weekly depositors must deposit employment […]

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